Price inelasticity of demand

At a price for $0, the demand for DVD games is around: (w) perfectly elastic. (x) perfectly inelastic. (y) unitarily elastic. (z) positively sloped.

2229_demand curve for DVD.png

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

View Complete Question

Related Questions in Microeconomics

Q : Barriers prevent entry in monopoly

Monopolists are more probable to generate economic profits within the long run than are pure competitors since: (w) monopolists are crooks. (x) monopolists are more interested in profits. (y) barriers prevent entry by new firms in a m

Q : For luxury items absolute value of

The absolute value of price elasticity of demand tends to be lower when: (w) the greater the number of substitutes available. (x) the more important the product is in classical budgets. (y) for necessities than for luxury items. (z) when more time is

Q : Levels of recent interest rate When

When households become ever more willing to sacrifice future consumption therefore that they can enjoy greater levels of recent consumption, in that case the: (w) interest rate rises. (x) interest rate falls. (y) present value of future income rises. (z) equilibrium r

Q : Equilibrium market price In a perfectly

In a perfectly competitive market, market demand curve is provided by Qd = 200 − 5Pd, and the market supply curve is provided by Qd = 35Ps. a) Determine the equilibrium market price

Q : Total increase in national income In an

In an economy the MPC is 0.75. Investment expenses in the economy raise by Rs.75 crore. Compute total increase in national income.

Q : Demand in a specific period In adding

In adding up to price, the quantity of a good bought throughout a given period is recognized by: (1) Income. (2) Tastes and preferences. (3) Numbers of buyers in market. (4) Prices of associated goods. (e) All of above. Can someone

Q : Effect on total revenue by raises price

A price raise from $6 to $8 would effect in: (1) a decrease in total revenue. (2) an increase in total revenue. (3) no change in total revenue. (4) consumers buying more pizza. (5) pizza parlors selling more pizza.

Q : Market supplies of labor withinin long

During the long run, the labor supply curve facing a main industry: (w) will always be positively associated to the wage rate. (x) will slope upward only when individual labor supply curves slope upward. (y) can be backward bending at very high wage r

Q : Profits and losses in long run In the

In the long run: (i) purely competitive firms make zero economic profits. (ii) monopolistically competitive firms make zero economic profits. (iii) effective barriers to entry may permit economic profits. (iv) oligopolists and monopolists may realize

Q : Problem on greatest monopsony power The

The Employers would have the maximum monopsony power in dealing with: (i) White collar labor in the metropolitan area. (ii) Unionized workers. (iii) Professional athletes. (iv) Blue collar labor in metropolitan area.

Discover Q & A

Leading Solution Library

Avail More Than 1443877 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1933933
Asked

3,689

Active Tutors

1443877

Questions
Answered

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

Submit Assignment