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Author Question: A perfectly elastic demand curve a. Is a horizontal line parallel to the x axis b. Has an ... (Read 59 times)

melina_rosy

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on: Jul 1, 2018
A perfectly elastic demand curve
 a. Is a horizontal line parallel to the x axis
 b. Has an elasticity of demand between 0 and 1
 c. Is the demand curve of a product that usually has no substitutes
  d. None of the above

Question 2

Does the Nash equilibrium yield maximum profit?
 a. Yes, because they are each getting the maximum payoff
  b. No, because they could do better by pricing high
 c. Yes, because they are both making sales
 d. No, because they both hate selling ice cream


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HandsomeMarc

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

a

Answer to Question 2

b


melina_rosy

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

okolip

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Reply 3 on: Yesterday
Excellent

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