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Alek Hsiang Alek Hsiang
wrote...
Posts: 383
Rep: 1 0
5 years ago

Question 1.

If the quantity demanded of a product is the same for each possible price, demand is

• elastic.

• unit-elastic.

• perfectly inelastic.

• perfectly elastic.

Question 2.

If there is no response in quantity demanded to a change in price, demand is

• elastic.

• perfectly inelastic.

• perfectly elastic.

• unit-elastic.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
Read 60 times
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Replies
wrote...
5 years ago

Answer 1

perfectly inelastic.

Answer 2

perfectly inelastic.
Alek H. Author
wrote...
5 years ago
Thank you for answering so quickly
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