A firm facing a ________ demand curve, ceteris paribus, will have zero quantity demanded if it raises its price above the market price.
A. relatively elastic
B. perfectly inelastic
C. relatively inelastic
D. perfectly elastic
Answer: D
You might also like to view...
All of the following illustrate how government can correct for positive externalities EXCEPT
A) subsidies. B) regulation. C) government financing and production. D) charging effluent fees.
If the duration of unemployment in a country increases from 16 weeks to 18 weeks, then
A) the unemployment rate will decrease. B) the unemployment rate will increase. C) the size of the labor force will increase. D) the size of the labor force will decrease.
To be the best at everything is possible
Indicate whether the statement is true or false
Over the last fifty years both real GDP and prices have trended upward in most countries. Continuing real GDP growth and inflation can be explained by
a. continuing technological progress alone. b. continuing increases in the money supply alone. c. continued technological progress and continuing increases in the money supply. d. None of the above can explain continuing real GDP growth and inflation.