Why might a good be perfectly inelastic?
Why might a good be perfectly inelastic?
Homework Answers
A good will be perfectly inelastic if the quantity demanded is not affected by changes in price. The quantity demanded will remain the same whatever the price. Necessities like gasoline, salt, insulin, rare artifacts are examples of goods having inelastic demand.
on 2 Why might a good be perfectly inelastic? Give an example of a good that...
on 2 Why might a good be perfectly inelastic? Give an example of a good that is perfectly inelastic. ered ed out of > lag Paragraph - B190R SOA U S X, x? E 21 Font family - Font size - H I stion 22 acer
Discuss what inelastic means in terms of a good or product. Then discuss what perfectly inelastic...
Discuss what inelastic means in terms of a good or product. Then discuss what perfectly inelastic means. Finally, for a highly addictive substance such as cocaine, could the market demand for it ever be perfectly inelastic at all prices? Explain your answer in detail.
Why would a firm care about the elasticity of the good it sells? Think about how...
Why would a firm care about the elasticity of the good it sells? Think about how elasticity affects the firm's behavior when it wants to increase total revenue. Why might a good be perfectly inelastic? Give an example of a good that is perfectly inelastic.
1. If a demand curve is perfectly inelastic and consumers buy 500 units of the good...
1. If a demand curve is perfectly inelastic and consumers buy 500 units of the good at a price of $4, how many units will be purchased if the price increases to $4.50?
Why is the maximum amount of KE lost during perfectly inelastic collision?
Why is the maximum amount of KE lost during perfectly inelastic collision?
Question 15 Of the following, which is the best example of good with a perfectly inelastic...
Question 15 Of the following, which is the best example of good with a perfectly inelastic demand? a diabetic's demand for insulin the demand for tickets in New York City when the Mets or Yankees are in the World Series the demand for gasoline the demand for a college education by a student who has a full scholarship to an ivy League school
Question 15 of the following, which is the best example of good with a perfectly inelastic...
Question 15 of the following, which is the best example of good with a perfectly inelastic demand? a diabetic's demand for insulin the demand for tickets in New York City when the Mets or Yankees are in the World Series the demand for gasoline the demand for a college education by a student who has a full scholarship to an Ivy League school
explain perfectly inelastic collisions?
explain perfectly inelastic collisions?
Why would an overseas procedure be a good option? Why might it not? Why might someone...
Why would an overseas procedure be a good option? Why might it not? Why might someone want to come to the United States for medical treatment?
A perfectly ___ demand curve is _____. An example of a good with this type of demand is ______. A) elastic, horizontal,...
A perfectly ___ demand curve is _____. An example of a good with this type of demand is ______. A) elastic, horizontal, food B) inelastic, vertical, insulin C) inelastic, vertical, Pepsi
on 2 Why might a good be perfectly inelastic? Give an example of a good that is perfectly inelastic. ered ed out of > lag Paragraph - B190R SOA U S X, x? E 21 Font family - Font size - H I stion 22 acer
Why would a firm care about the elasticity of the good it sells? Think about how elasticity affects the firm's behavior when it wants to increase total revenue. Why might a good be perfectly inelastic? Give an example of a good that is perfectly inelastic.
Question 15 Of the following, which is the best example of good with a perfectly inelastic demand? a diabetic's demand for insulin the demand for tickets in New York City when the Mets or Yankees are in the World Series the demand for gasoline the demand for a college education by a student who has a full scholarship to an ivy League school
Question 15 of the following, which is the best example of good with a perfectly inelastic demand? a diabetic's demand for insulin the demand for tickets in New York City when the Mets or Yankees are in the World Series the demand for gasoline the demand for a college education by a student who has a full scholarship to an Ivy League school
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