Multiple Choice
Assume that the demand curve for a certain good is a vertical line.This vertical demand curve illustrates the idea that:
A) consumers are unwilling to pay more than a certain price for the good.
B) the good is a complement to another good.
C) consumers are unwilling to pay less than a certain price for the good.
D) there are many substitutes for this good.
E) people will not change the quantity of the good when the price of the good is changed.
Correct Answer:

Verified
Correct Answer:
Verified
Q70: Which of the following situations is represented
Q72: Suppose the manager of a store wants
Q73: If the demand for beans tends to
Q74: The point elasticity is a measure of
Q76: Price elasticity of demand is more likely
Q77: Which of the following is true with
Q78: A perfectly inelastic demand curve is represented
Q79: Ceteris paribus,a 10 percent increase in income
Q80: The figure given below shows the demand
Q120: The figure given below shows the demand