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Author Question: Consider the demand curve of the form Q = a - bP. If a is a positive real number, and b = 0, then ... (Read 63 times)

sjones

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on: Jul 1, 2018
Consider the demand curve of the form Q = a - bP. If a is a positive real number, and b = 0, then demand is
 
  A) completely inelastic.
  B) inelastic, but not completely.
  C) unit elastic.
  D) elastic, but not infinitely.

Question 2

What is the economies of scope character for a firm that has a straight-line product transformation curve?
 
  A) Economies of scope (SC > 0)
  B) Diseconomies of scope (SC < 0)
  C) SC = 0
  D) SC = 1


chjcharjto14

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

A

Answer to Question 2

C


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