« previous next »

Author Question: The demand for a commodity is said to perfectly inelastic when: a. a prominent change in the price ... (Read 58 times)

crobinson2013

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
The demand for a commodity is said to perfectly inelastic when:
 a. a prominent change in the price level leaves the quantity demanded totally unchanged.
  b. a small change in the price level affects the quantity demanded to a large extent.
  c. a change in the price level has an equal impact on the quantity demanded.
  d. a change in the price level has a negative impact on the quantity demanded.

Question 2

The characteristic that distinguishes a monopolistically competitive market from a perfectly competitive market is the:
 a. ease of entry.
  b. number of firms operating in the market.
  c. degree of government regulation in the activities of the firms.
  d. differentiation of products.
  e. extent of market share of each firm.


atrochim

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Religion can promote social change, as was evident in the U.S. civil rights movement. Dr. Martin ... Religion can promote social change, as was evident in the U.S. civil rights movement. Dr. Martin ...
Natural Causes of Climate Change Natural Causes of Climate Change
Ancient Climate Change: Following the Cretaceous Ancient Climate Change: Following the Cretaceous
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
Price of Computers, 1982–2010 Price of Computers, 1982–2010
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Fractures Animation

For a complete list of videos, visit our video library