« previous next »

Author Question: A vertical demand curve A) is impossible. B) reasonably represents demand for essential goods. ... (Read 47 times)

olgavictoria

  • Hero Member
  • *****
  • Posts: 528
on: Jul 1, 2018
A vertical demand curve
 
  A) is impossible.
  B) reasonably represents demand for essential goods.
  C) has a price elasticity of negative infinity since people will pay an infinite amount for the good.
  D) represents a normal good.

Question 2

In a Bertrand model with differentiated products,
 
  A) firms can set price above marginal cost.
  B) firms set price at marginal cost.
  C) price is independent of marginal cost.
  D) firms set price independently of one another.


diesoon

  • Sr. Member
  • ****
  • Posts: 353
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

olgavictoria

  • Hero Member
  • *****
  • Posts: 528
Reply #2 on: Jul 1, 2018
Thank you


diesoon

  • Sr. Member
  • ****
  • Posts: 353
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

The human oxygen-hemoglobin dissociation curve. The human oxygen-hemoglobin dissociation curve.
The actions of Frzb and the Frizzled receptor protein show how embryonic development represents a ba The actions of Frzb and the Frizzled receptor protein show how embryonic development represents a ba
Blood PH Curve Hemoglobin Blood PH Curve Hemoglobin
Bell Curve for Intelligence IQ scores for a population-based sample usually fall into this kind of Bell Curve for Intelligence IQ scores for a population-based sample usually fall into this kind of
For millions of people, the United States represents a land of opportunity and freedom from ... For millions of people, the United States represents a land of opportunity and freedom from ...
Shippers Declaration for Dangerous Goods Shippers Declaration for Dangerous Goods
Video: The pH scale - Strong acids and Weak acids

For a complete list of videos, visit our video library