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Author Question: When the marginal revenue curve intersects the horizontal axis A) demand is relatively elastic. ... (Read 52 times)

pepyto

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on: Jul 1, 2018
When the marginal revenue curve intersects the horizontal axis
 
  A) demand is relatively elastic.
  B) demand is relatively inelastic.
  C) demand is perfectly elastic.
  D) demand is unitary elastic.

Question 2

The above figure shows supply and demand curves for apartment units in a large city. If the city government passes a law that establishes 350 per month as the legal maximum rent, the consumer's net gain in surplus equals
 
  A) c - f.
  B) b - f.
  C) d - f.
  D) The answer cannot be determined from the information given.
Microeconomics ¦ Perloff ¦ 8th Edition
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qytan

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

A


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