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Author Question: The price elasticity of demand for a vertical demand curve is: a. perfectly elastic. b. perfectly ... (Read 419 times)

ahriuashd

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  • Posts: 535
on: Jun 30, 2018
The price elasticity of demand for a vertical demand curve is:
 a. perfectly elastic.
  b. perfectly inelastic.
  c. unitary elastic.
  d. elastic.
  e. inelastic.

Question 2

Suppose Good Food's supermarket raises the price of its steak and finds its total revenue from steak sales does not change. This is evidence that price elasticity of demand for steak is:
 a. perfectly elastic.
  b. perfectly inelastic.
  c. unitary elastic.
  d. inelastic.
  e. elastic.


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parshano

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


ahriuashd

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  • Posts: 535
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

tkempin

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Reply 3 on: Yesterday
:D TYSM

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