Question : A demand curve, which is parallel to the horizontal axis, showing quantity, has a price elasticity equal to

Option 1: zero

Option 2: one

Option 3: less than one

Option 4: infinite

Question : The price elasticity of demand for a perfectly elastic demand curve is:

Option 1: 0

Option 2: 1

Option 3:  Greater than 1

Option 4: Infinite

Question : The elasticity of demand for luxury goods is:

Option 1: Less than one

Option 2: More than one

Option 3: Zero

Option 4: Infinite

Question : Perfectly inelastic demand is equal to:

Option 1: one

Option 2: infinite

Option 3: zero

Option 4: greater than one

Question : In general, the demand curve slopes:
 

Option 1: Parallel to Y-axis

Option 2: Upward from left to right
 

Option 3: Parallel to X-axis

Option 4: Downward from left to right