--%>

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?

   Related Questions in Microeconomics

  • Q : Long run adjustments The resources of a

    The resources of a firm in the long run which has consistently suffered economic losses are probably to: (i) move into a more profitable industry. (ii) share losses equal to the firm’s fixed costs. (iii) be merged into a firm along with better m

  • Q : Problem relating to Changes in Demand

    Airlines considerably decreased the number of flights accessible in the year 2005, as compared to flight availability during the year 2000. Passenger mileage was fall. Economists would be least possible to ascribe the decline in airline ticket sales throughout the ear

  • Q : Market Power-Monopsony Power-Employment

    With a specific market demand for the product and a specific market labor supply curve, the employment will be smallest if a firm is: (1) Monopolist in product market and a pure competitor in the labor market. (2) Pure competitor in labor and product markets. (3) Pure

  • Q : Wage differentials-union and nonunion

    I have a problem in economics on Wage differentials-union and nonunion workers. Please help me in the following question. The wage differentials among union and nonunion workers encompass historically averaged roughly: (i) 10% to 15 %. (ii) 5% to 10%.

  • Q : Choosing a statistical Model Choosing a

    Choosing a statistical Model: A number of problems arise in determining whether the work is truly rigorous or not. It is important to determine whether the model chosen makes theoretical and intuitive sense. <

  • Q : Contestable markets and purely

    Contestable markets and purely competitive markets are related in that both: (w) consist of large numbers of firms. (x) consist of firms who are price takers. (y) are characterized by easy entry. (z) are characterized by large economies of scale.

  • Q : Monopsony Power definition Can someone

    Can someone please help me in finding out the accurate answer from the following question. The monopsony is a: (1) Market with just one seller. (2) Sole buyer of a specific good or resource. (3) Market with just one product. (4) Firm which employs just one resource.

  • Q : Problem concerning agency Shop

    Can someone help me in finding out the right answer from the given options. Non-union members can’t "free-ride" in states with Right-to-Work laws whenever a company agrees to operate: (i) Closed shop. (ii) Agency shop. (iii) Open shop.

  • Q : Hicks Model of Bargaining The John

    The John Hick’s bargaining model recommends that the union wage demands and a firm's wage provide: (i) Might be so distinct that the management hires scabs. (ii) Are non-negotiable in the competitive environment. (iii) Become identical as the du

  • Q : Oligopolistic markets in equilibrium

    Oligopolistic markets in equilibrium are described by: (w) a large number of sellers of homogeneous output. (x) monopolistic sellers dealing along with only some buyers. (y) a small number of sellers of close substitutes. (z) socially optimal amounts