Zero elasticity for demand curves

When any truly existed, then perfectly inelastic demand curves would include: (i) price elasticities of infinity and be horizontal. (ii) zero elasticity and be horizontal. (iii) a slope of one. (iv) price elasticities of infinity and would be vertical. (v) zero elasticity and be vertical.

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

View Complete Question

Related Questions in Microeconomics

Q : Equilibrium price of commodity Describe

Describe why the equilibrium price of commodity is determined at the level of output at which its demand equavalents its supply.

Q : Economic profits for most firms I have

I have a problem in economics on Economic profits for most firms. Please help me in the following question. Economic profits for most of the firms will generally be: (1) The similar as their accounting profits. (2) Bigger than their accounting gains. (3) Less than the

Q : Taft-Hartley Act and Closed Shops Can

Can someone help me in finding out the right answer from the given options. The Taft Hartley Act of 1946 made it illegal to encompass a: (1) Right-to-work law passed by the state legislature. (2) Conviction for the misdemeanor and serve as union officer. (3) Union for

Q : Bilateral Monopoly problem I have a

I have a problem in economics on Bilateral Monopoly problem. Please help me in the following question. The bilateral monopoly is in operation when: (1) The firm is mere employer of some labor force and a union is the mere supplier of the labor for tha

Q : Greater economics loss than fixed costs

Within the short run, there a monopolistically competitive firm will NOT operate at: (w) an economic loss that is less than fixed costs. (x) an economic loss that is greater than fixed costs. (y) making a normal profit. (z) making economic profits.

Q : Stages of production One of my friends

One of my friends can't succeed to get the answer of this question. Give solution of this question. Described the stages of production and in which stage will production occur and why?

Q : Ceteris Paribus assumption The ceteris

The ceteris paribus (all as well constant) assumption is most obviously implicit in the statement of a tailor who states that, “We will vend more suits in the month of May of 2008: (i) Than we sold in the month of May 2003. (ii) Than we sold in

Q : Define equilibrium price Equilibrium

Equilibrium price: The Equilibrium price refers to a price at which the market demand and market supply are equivalent.

Q : Nominal wages If the nominal wages of

If the nominal wages of carpenters rose by 5 percent in the year of 2000 and the price level increased by 3 percent, then the real wages of carpenters: A) decreased by 2 percent. B) increased by 2 percent. C) increased by 3 percent. D) increased by 8 percent.

Q : Operation of profit maximizing

While marginal cost is positive, a profit maximizing monopolist will control where marginal revenue is: (w) positive. (x) negative. (y) zero. (z) positive, zero, or negative, depending upon elasticity of demand.

Discover Q & A

Leading Solution Library

Avail More Than 1454211 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1928991
Asked

3,689

Active Tutors

1454211

Questions
Answered

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

Submit Assignment