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Author Question: If a firm facing a perfectly elastic demand curve raises its price, a. it will still sell exactly ... (Read 127 times)

Cooldude101

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on: Jul 1, 2018
If a firm facing a perfectly elastic demand curve raises its price,
 a. it will still sell exactly the same amount of output as it did at the lower price
  b. it will lose some, but not all, of its sales
  c. its sales will decrease to zero
  d. its sales will increase
  e. it is impossible to predict what will happen to its sales

Question 2

A perfectly elastic demand curve is
 a. a vertical straight line
  b. a horizontal straight line
  c. a downward-sloping straight line
  d. an upward-sloping straight line
  e. not a straight line


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ecabral0

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

C

Answer to Question 2

B


Cooldude101

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Reply #2 on: Jul 1, 2018
Thank you :)


ecabral0

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Reply #3 on: Jul 1, 2018
Happy to help you


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