7. A perfectly inelastic demand implies that A.buyers decrease their purchases when the price rises. B.buyers respond substantially to an increase in price. C.buyers increase their purchases only slightly when the price falls. D.buyers purchase the same amount when the price rises or falls. 8...
7. A perfectly inelastic demand implies that 14. When income increases, a budget constraint A. buyers decrease their purchases when the price rises. A. will shift inward, parallel to its initial position. B. buyers respond substantially to an increase in price. B. will shift outward, ...
ANS: C 24. A perfectly elastic demand implies that a. buyers will not respond to any change in price. b. any rise in price above that represented by the demand curve will result in a quantity demanded of zero. c. quantity demanded and price change by the same percent as we move ...
A perfectly elastic demand implies that A、buyers will not respond to any change in price. B、any rise in price above that represented by the demand curve will result in a quantity demanded of zero. C、quantity demanded and price change by the same percent as we move along the demand curv...
perfectly inelastic,需求曲线是垂直的,即不管价格怎么变,需求恒定(需求完全对价格变化免疫)。 perfectly elastic,需求曲线是水平的,在一个给定的价格时,需求随机变化( It implies that even a minute price increase will reduce demand to zero, but at that given price, the consumer would buy some large, unk...
Perfectly Elastic Demand: Perfectly elastic demand is seen in markets with perfect competition. However, since such a market cannot exist in the real world, it is very difficult to find a product that has perfectly elastic demand. Answer and Explanation:1 ...
Rather, the perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price. Wh...
An important similarity between a monopolistically competitive firm and a pure monopolist is that both ___: a. realize an economic profit in the long run. b. achieve allocative efficiency. c. face demand curves that are less than...
In a perfectly elastic demand situation, why does quantity of demand reduce to zero, even if the price decreases? If the price of a good increases by 10% and the quantity demanded falls by 5%, what is the price elasticity of demand? Is it elastic or inelastic?
trade theory implies that, due to increasing globalization, better substitution possibilities and greater price sensitivity of consumers render labor demand more wage-elastic. This meta-study is the first to examine whether the responsiveness of labor demand differs between internationally operating (i.e...