Consider the following products. Which of them has the flattest demand curve? A) insulin B) ...

Author Question: Consider the following products. Which of them has the flattest demand curve? A) insulin B) ... (Read 40 times)

pepyto

Hero Member
Posts: 547

on: Jul 1, 2018

Consider the following products. Which of them has the flattest demand curve?

A) insulin
B) alcohol
C) cigarettes
D) butter

Question 2

A vertical demand curve for a particular good implies that consumers are

A) sensitive to changes in the price of that good.
B) not sensitive to changes in the price of that good.
C) irrational.
D) not interested in that good.

Microeconomics ¦ Perloff ¦ 8^th Edition

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epscape

Sr. Member
Posts: 335

Reply #1 on: Jul 1, 2018

Answer to Question 1

D

Answer to Question 2

B

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