« previous next »

Author Question: The demand for a commodity is said to perfectly inelastic when: a. a prominent change in the price ... (Read 51 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?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Stages of Health Behavior Change Stages of Health Behavior Change
Climate Change Climate Change
Ice cores as indicators of environmental change Ice cores as indicators of environmental change
Climate change is an important vector for human diseases Climate change is an important vector for human diseases
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
Climate change Climate change
Video: Oral Hygiene & Braces Animation

For a complete list of videos, visit our video library