Answer to Question #206594 in Microeconomics for ggboya

Question #206594

. When price-consumption curve is horizontal (refer the graph), the demand is -----------------------------.

a.

Inelastic

b.

Perfectively elastic

c.

Unitary elastic

d.

Elastic

Expert's answer

b) Perfectively elastic

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Use marginal approach calculate the optimum combination of the following Product (Y₁) - product (
2. . If a consumer increases her quantity of ice cream consumed by 100% when her income rises by 25%. C
3. Assume you are managing a food processing plant in Ethiopia. The demand function for one of your pr
4. What is the relation between productivity and cost? Describe the association using equations for MC
5. What is the relation between productivity and cost? Describe the association using equations for MC
6. For a monopolist firm the demand and the total cost functions are given as Q = 20-0.5P and TC= 4Q2-8
7. If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price and quantity?