Homework Answers
Ans: J
Explanation:
Perfectly elastic demand curve represents that quantity demanded changes even if there is no change in price. The change in demand is due to other factors other than price. In the above diagram:
Curve G is a less elastic demand curve.
Curve H is a more elastic demand curve.
Curve I is a perfectly inelastic demand curve.
Curve J is a perfectly elastic demand curve.
Thus, option [D] is correct answer.
Add Answer to:
In the figure, which demand curve illustrates perfectly elastic demand? OA. I H B. H G...
Refer to Exhibit 19-7. Which of the graphs shows a perfectly elastic demand curve? A. (1)...
Refer to Exhibit 19-7. Which of the graphs shows a perfectly
elastic demand curve?
A. (1)
B. none of these options
C. (2)
D. (3) and (4)
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Refer to Figure 5-1. A perfectly elastic demand curve is shown in Panel D. Panel A. Panel C...
Refer to Figure 5-1. A perfectly elastic demand curve is shown
in
Panel D.
Panel A.
Panel C.
Panel B.
Refer to Figure 5-5. The data in the diagram indicates that
DVDs
are luxury goods.
are both luxury goods and price inelastic goods.
are price inelastic goods.
are both necessities and price inelastic goods.
are necessities.
3-
Consider the following pairs of items:
a. shampoo and conditioner
b. iPhones and earbuds
c. a laptop computer and a desktop computer
d....
QUESTION 30 Figure 5-3 Price darity Refer to Figure 5-3. Which demand curve is perfectly inelastic?...
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the demand curve facing the monopoly is A) perfectly elastic B) perfectly inelastic C) the market...
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Figure 5-1 Panel A Panel B Price Demand Demand Quantity Quantity Panel C Panel D Price...
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5) A monopolist faces A) a perfectly elastic demand curve. B) a perfectly inelastic demand curve....
5) A monopolist faces A) a perfectly elastic demand curve. B) a perfectly inelastic demand curve. C) a horizontal demand curve. D) a downward-sloping demand curve. E) declining market share. 6) Which one of the following about a monopoly is false? A) A monopoly could make profits in the long run B) A monopoly could break even in the long run. C) A monopoly must have some kind of government privilege or government imposed barrier to maintain its monopoly. D)...
Refer to Exhibit 19-7. Which of the graphs shows a perfectly
elastic demand curve?
A. (1)
B. none of these options
C. (2)
D. (3) and (4)
Price 2 - X 0 1000 Quantity (1) 1000 Quantity 100 Quantity (3) 0100 Quantity (4)
6. What is the elasticity of demand of a perfectly elastic demand curve? (A) 0 (B) -1 (C) -00 (D) Undefined 7. Which of the following goods has the highest price elasticity of supply? (A) Sports cars (B) Bicycles (C) Italian tailored suits. (D) Aircraft carriers 8. Consider the following demand equation: p 53-4q What is the price elasticity of demand when p 36? (A) -9 (D) None of the above 9. Suppose that, for a given (linear) demand equation,...
Refer to Figure 5-1. A perfectly elastic demand curve is shown
in
Panel D.
Panel A.
Panel C.
Panel B.
Refer to Figure 5-5. The data in the diagram indicates that
DVDs
are luxury goods.
are both luxury goods and price inelastic goods.
are price inelastic goods.
are both necessities and price inelastic goods.
are necessities.
3-
Consider the following pairs of items:
a. shampoo and conditioner
b. iPhones and earbuds
c. a laptop computer and a desktop computer
d....
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