On which point demand appears to be unitarily elastic

On this demonstrated figure of demand curve for DVD games, demand appears to be approximately unitarily elastic at: (w) Q = O, P = $50. (x) Q = 10, P = $O. (y) Q = 5, P = $25. (z) No point on the demand curve.

1507_Price Elasticity of Demand2.png

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Microeconomics

Q : Zero economic profits in long-run

In long-run equilibrium, a monopolistically competitive firm is making: (a) economic profits. (b) zero economic profits. (c) negative economic profits. (d) revenues that exceed total costs. Can anybody suggest me t

Q : Guidelines for Estimating Times and

Guidelines for Estimating Times and Costs: Determine responsibilities. Use many people to estimate. Base estimates on general conditions. Select time units, and be consistent in their use. Indepen

Q : Problem on price mark up A company

A company consists $27 per unit in variable costs and $1,000,000 annually in fixed costs. Demand is predicted to be 100,000 units annually. Determine the price if a markup of 40% on total cost is used to determine the price?

Q : Technology in supply I have a problem

I have a problem in economics on Technology in supply. Please help me in the following question. The bumper corn crop caused by the good weather would symbolize a raise in: (i) supply. (ii) Consumer’s tastes for corn. (iii) Demand. (iv) The price of corn. <

Q : Market demand function The market for

The market for good X consists of 2 consumers. consumer 1',s demand for good X is: X1 : 15 - 3Px + 0.5PY + .02I1I1 and I2 a

Q : Competitive Profit Maximization-average

The purely competitive firm which hires more workers if the value of marginal product of labor increases above the competitively set wage rate will certainly experience rises in its: (1) Overhead costs. (2) Profit per unit. (3) Average variable cost. (4) Marginal reve

Q : Advantages of free market economy Give

Give the best advantages of free market economy?

Q : Wage Discrimination and Social Welfare

The sum up of monopsonistic exploitation by the firm raises however the firm as well operates at a more socially and economically proficient level of output and employment whenever the firm is capable to engage in: (i) Blacklisting in its hiring of the labor. (ii) Yel

Q : Selling footballers-the economic

State economic arguments on whether a football club must sell a significant player?

Q : When is demand perfectly price inelastic

Demand is perfectly price inelastic when the quantity demanded for Pixie’s cheesy fried grits is of: (w) zero. (x) P4. (y) P2. (z) More information is required.

Discover Q & A

Leading Solution Library

Avail More Than 1415066 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1939368
Asked

3,689

Active Tutors

1415066

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment