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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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8 years ago
If demand for a seller's product is perfectly elastic, which of the following is true?
i.   The firm will sell no output if it sets the price its product above the market price.
ii.   There are many perfect substitutes for the seller's product.
iii.   The firm will sell no output if it sets the price its product below the market price.
A) i only
B) ii only
C) iii only
D) i and ii
E) ii and iii
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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8 years ago
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8 years ago
Don't mention it Happy Dummy
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