Homework Answers
Answer 16
Demand is perfectly inelastic if elasticity of demand = 0 i.e. Change in price will not result in change in quantity demand i.e. quantity demand will remain same when price changes. As quantity demand is on horizontal axis and price is on vertical axis and also price will change and quantity demand will not change. This means that demand curve will be vertical and hence will be parallel to the vertical axis.
Hence, the correct answer is (a) can be represented by a line parallel to the vertical axis.
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Question 16 1 pts A demand curve, which is perfectly inelastic: can be represented by a...
Questions Questions 1 points and relatively inelastic demand is represented by a demand curve which is...
Questions Questions 1 points and relatively inelastic demand is represented by a demand curve which is Perfectly inelastic demand is represented by a demand curve which is vertical, downward sloping horizontal, downward sloping downward sloping vertical upward sloping horizontal
1. A perfectly inelastic demand curve is (Click to select) A. downward-sloping B horizontal C vertical D...
1. A perfectly inelastic demand curve is (Click to select) A. downward-sloping B horizontal C vertical D upward-sloping . Price elasticity of demand is equal to (Click to select) A. -∞ B 0 C -1 2. A perfectly elastic demand curve is (Click to select) A. downward-sloping B horizontal C vertical D upward-sloping . Price elasticity of demand is equal to (Click to select) A. -∞ B 0 C -1 3. Along a linear demand curve that is neither perfectly inelastic nor perfectly elastic, price elasticity...
An individual firm in a perfectly competitive market will face demand. Perfectly inelastic Upward sloping Perfectly...
An individual firm in a perfectly competitive market will face demand. Perfectly inelastic Upward sloping Perfectly elastic Cannot be determined from the information Downward sloping Considering jackets and sweaters, to graph an Engel curve of jackets what must be true? The price of sweaters changes The price of jackets changes Income changes Cannot be determined from the information O Utility is held constant
Question 7 point What is the slope of perfectly elastic demand curve? a Downward from left...
Question 7 point What is the slope of perfectly elastic demand curve? a Downward from left to right Upward from left to right Horizontal straight line Vertical straight line d
When large changes in price lead to no changes in quantity demanded, demand is perfectly Group of answer choices inelastic, and the demand curve will be vertical. inelastic, and the demand curve will be horizontal. elastic, and the demand curve will be
When large changes in price lead to no changes in quantity demanded, demand is perfectlyGroup of answer choicesinelastic, and the demand curve will be vertical.inelastic, and the demand curve will be horizontal.elastic, and the demand curve will be vertical.elastic, and the demand curve will be horizontal.
D Question 13 1 pts When a commodity has perfectly inelastic demand, its demand curve is...
D Question 13 1 pts When a commodity has perfectly inelastic demand, its demand curve is vertical the quantity demanded would vary tremendously if there were any changes in price. its price elasticity of demand is infinity all above are correct
Question 16 A perfectly elastic demand curve is vertical. horizontal. upward sloping. curvilinear.
Question 16 A perfectly elastic demand curve is vertical. horizontal. upward sloping. curvilinear.
Question 16 1 pts A typical indifference curve is negatively sloped because: as we consume more...
Question 16 1 pts A typical indifference curve is negatively sloped because: as we consume more of one good, we are willing to give up the consumption of another good without changing our utility higher indifference curves represent higher levels of utility higher indifference curves represent lower levels of utility we assume that a consumer's income is constant Question 17 1 pts A typical indifference curve: O is convex to the origin (bowed in) has a constant slope is concave...
The initial diagram has two panels.The left graph depicts a perfectly inelastic demand curve. The right graph depicts a...
The initial diagram has two panels.The left graph
depicts a perfectly inelastic demand curve. The right graph depicts
a relatively flat sloped demand curve. The initial equilibrium in
each graph is labeled point A. We will impose a $3 per unit tax in
the left graph, and a $4 per unit tax in the right graph.
Make a copy of the graph, then follow the below
instructions to draw the graph:
1. In the left graph $3 above and parallel...
can you show me the effect of taxes on a perfectly inelastic demand curve and a...
can you show me the effect of taxes on a perfectly inelastic demand curve and a perfectly elastic demand curve?
Questions Questions 1 points and relatively inelastic demand is represented by a demand curve which is Perfectly inelastic demand is represented by a demand curve which is vertical, downward sloping horizontal, downward sloping downward sloping vertical upward sloping horizontal
An individual firm in a perfectly competitive market will face demand. Perfectly inelastic Upward sloping Perfectly elastic Cannot be determined from the information Downward sloping Considering jackets and sweaters, to graph an Engel curve of jackets what must be true? The price of sweaters changes The price of jackets changes Income changes Cannot be determined from the information O Utility is held constant
Question 7 point What is the slope of perfectly elastic demand curve? a Downward from left to right Upward from left to right Horizontal straight line Vertical straight line d
D Question 13 1 pts When a commodity has perfectly inelastic demand, its demand curve is vertical the quantity demanded would vary tremendously if there were any changes in price. its price elasticity of demand is infinity all above are correct
Question 16 A perfectly elastic demand curve is vertical. horizontal. upward sloping. curvilinear.
Question 16 1 pts A typical indifference curve is negatively sloped because: as we consume more of one good, we are willing to give up the consumption of another good without changing our utility higher indifference curves represent higher levels of utility higher indifference curves represent lower levels of utility we assume that a consumer's income is constant Question 17 1 pts A typical indifference curve: O is convex to the origin (bowed in) has a constant slope is concave...
The initial diagram has two panels.The left graph
depicts a perfectly inelastic demand curve. The right graph depicts
a relatively flat sloped demand curve. The initial equilibrium in
each graph is labeled point A. We will impose a $3 per unit tax in
the left graph, and a $4 per unit tax in the right graph.
Make a copy of the graph, then follow the below
instructions to draw the graph:
1. In the left graph $3 above and parallel...
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