If a demand curve for a good were completely vertical, it would be considered
a. perfectly elastic.
b. perfectly inelastic.
c. of unitary elasticity.
d. relatively inelastic.
B
Economics
You might also like to view...
Based on the table above, the equilibrium price level is
A) 130. B) 120. C) 110. D) 100. E) 90.
Economics
In the above figure, through which range would the demand for this good be most inelastic?
A) A-B B) B-E C) E-F D) G-H
Economics
Real wealth falls, interest rates rise, and the dollar appreciates as the price level
a) remains constant. b) falls slightly. c) rises. d) falls substantially.
Economics
Suppose that the elasticity of demand for a product is 0.5. What will happen to total revenue as a firm increases the price?
A. Total revenue will increase. B. Total revenue will decrease. C. Total revenue will stay the same. D. It cannot be determined from the information provided.
Economics