A perfectly elastic demand:
A. means consumers are extremely sensitive to a change in price.
B. means quantity demanded is unchanged if the price changes by any amount.
C. is demonstrated by a vertical demand curve.
D. has a price elasticity of 1.
A. means consumers are extremely sensitive to a change in price.
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The demand for bonds is
A) equivalent to the demand for loanable funds. B) equivalent to the supply of loanable funds. C) represented by an upward-sloping line when the price of bonds is on the vertical axis and the quantity of bonds demanded is on the horizontal axis. D) represented by a downward-sloping line when the interest rate is on the vertical axis and the quantity of bonds demanded is on the horizontal axis.
What are the factors that favor high incentive pay for an employee? Explain which of the five factors is the most important.
What will be an ideal response?
In determining the number of persons who are poor in the U.S. when calculating family income
A. only earnings are counted. B. only earnings are counted, while cash transfers from the government are excluded. C. money income, including cash transfers received from the government, is counted. D. both earnings and the value of medical services, food stamps, and housing received are counted.
Which of the following statements is true?
A. In the short run all inputs are fixed. B. Diminishing returns to labor means that adding one more worker will decrease output. C. In the long run a firm is making the optimal input choice when the marginal rate of technical substitution is equal to the input price ratio. D. all of the above E. none of the above