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Author Question: A horizontal demand curve for a good could arise because consumers A) are irrational. B) are not ... (Read 35 times)

Mimi

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  • Posts: 542
on: Jul 1, 2018
A horizontal demand curve for a good could arise because consumers
 
  A) are irrational.
  B) are not sensitive to price changes.
  C) view this good as identical to another good.
  D) have no equivalent substitutes for this good.

Question 2

If the price of orange juice rises 10, and as a result the quantity demanded falls by 10, then one can conclude that the demand for orange juice
 
  A) is perfectly elastic.
  B) is inelastic.
  C) has a unitary elasticity.
  D) has a constant elasticity.
Microeconomics ¦ Perloff ¦ 8th Edition
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Pamela.irrgang@yahoo.com

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

C

Answer to Question 2

C


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