Multiple Choice
What is the slope of a perfectly inelastic demand curve,and why
A) negatively sloped, because buyers decrease their purchases when the price rises
B) vertical, because buyers purchase the same amount whether the price rises or falls
C) positively sloped, because buyers respond by increasing their purchases when price rises
D) horizontal, because buyers increase their purchases by huge amounts with slight changes in price
Correct Answer:
Verified
Correct Answer:
Verified
Q30: If an increase in income results in
Q31: Which of the following categories of goods
Q32: There are very few,if any,good substitutes for
Q33: When a supply curve is relatively flat,what
Q34: Last month,sellers of good Y took in
Q36: Your younger sister needs $80 to buy
Q37: What is the difference between slope and
Q38: If a demand curve is horizontal,what are
Q39: Figure 5-2<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 5-2
Q40: To determine whether a good is considered