--%>
Assignment Help - homework help

Define feature of perfectly inelastic demand curve

A perfectly inelastic demand curve: (w) is an imaginary mathematical construct, and does not exist within reality. (x) corresponds to a perfectly horizontal line. (y) represents a good which absorbs only a small portion of consumers’ budgets. (z) occurs while a change within total revenue is disproportional to a change into price.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

   Related Questions in Microeconomics

  • Q : Probable outcome of a shift problem The

    The shift from D0 to D1 would be a probable outcome of: (i) An alter in the price of gasoline. (ii) Winter ending and summer coming, and hence more people take vacations. (iii) A reduction in the number miles driven. (iv) A rise in the cost of petroleum employed to ge

    		•
  • Q : Analysis deregulation caused the

    Choose the right answer of the following problem. "The government deregulated the electricity industry in California and a shortage of electricity occurred soon . It is clear that the deregulation caused the shortage." This statement requires careful analysis becau

    		•
  • Q : Problem on Analytic Time-Long Run Can

    Can someone please help me in finding out the accurate answer from the following question. The length of time needed for a firm to reach the long run is: (i) One year. (ii) Five years. (iii) Ten years. (iv) Variable and depend on the easiness of purchasing or selling

    		•
  • Q : Characteristics of oligopoly in market

    An oligopoly is a form of market structure described by: (w) its large number of sellers. (x) firms' capability to easily enter and exit the industry. (y) conscious interdependence. (z) price taker behavior.

    Q : Equality between marginal revenue and

    A profit-maximizing monopolist which does not price discriminate and that faces a demand curve that is higher at some output levels than is the firm’s average variable cost curve finds out price and quantity where: (w) profit pe

    		•
  • Q : Excess supply at the minimum price

    Programs which guarantee farmers minimum prices which exceed equilibrium prices will yield: (w) cheaper food for consumers. (x) excess demand in food markets. (y) excess supply at the minimum price. (z) higher equilibrium prices.

    		•
  • Q : Demand curve facing each firm Question:

    Question: (1) Suppose the jeans industry is an oligopoly in which each firm sells its own distinctive brand of jeans, and each firm believes its rivals will not follow its price increases but will

    		•
  • Q : Problem on Efficiency Wage I have a

    I have a problem in economics on Efficiency Wages problem. Please help me in the following question. The Efficiency wages: (i) do not maximize firm profit. (ii) Cause involuntary unemployment. (iii) Are paid due to adverse selection. (iv) Are never se

    		•
  • Q : Present consumption and future

    When interest rate increases, the cost of future consumption decreases?

    		•
  • Q : Contribution standard of income

    The contribution standard of income distribution: (w) sets the least efficient incentives for production. (x) is the distribution standard most compatible along with pure capitalism. (y) minimizes individual economic freedom. (z) is very complimented

    		•