Author Question: The price elasticity of demand for a horizontal demand curve is: a. 0. b. -1. c. 1. d. - ... (Read 73 times)

CharlieWard · **on:** Jul 1, 2018

The price elasticity of demand for a horizontal demand curve is:
a. 0.
b. -1.
c. 1.
d. - infinity.

Question 2

The profit-maximizing monopolist, faced with a negative-sloping demand curve, will always produce:
a. at an output greater than the output where average costs are minimized
b. at an output short of that output where average costs are minimized
c. at an output equal to industry output under pure competition
d. a and c
e. none of the above