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Author Question: If demand is perfectly inelastic A) then a 1 increase in price leads to a fall in quantity of ... (Read 47 times)

mp14

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on: Jul 1, 2018
If demand is perfectly inelastic
 
  A) then a 1 increase in price leads to a fall in quantity of greater than 1.
  B) then a 1 increase in price leads to a fall in quantity of less than 1.
  C) then a 1 increase in prices then quantity demanded falls to zero.
  D) then a 1 increase in price has no effect on quantity demanded.

Question 2

If the government wanted to efficiently limit the emission of carbon monoxide by all firms to exactly 4 million tons it could
 
  A) issue rights to pollute worth 4 million tons and let the firms trade those rights in a market.
  B) appeal to firms' environmental conscience to pollute less.
  C) subsidize production.
  D) rely on the Coase Theorem.


duke02

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

D

Answer to Question 2

A


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