if the graph of the demand curve is vertical, then the good must be Select one:...

Question

Question

business economics

Answer 1

Answer #1

Ans) the correct option is d) perfectly inelastic.

The vertical demand curve is perfectly inelastic meaning percentage change in price does not have any effect on quantity demanded.

Answer 2

Answer #2

Perfectly inelastic

Answer 3

Similar Homework Help Questions

1. A perfectly inelastic demand curve is (Click to select) A. downward-sloping B horizontal C vertical D...

1. A perfectly inelastic demand curve is (Click to select) A. downward-sloping B horizontal C vertical D upward-sloping . Price elasticity of demand is equal to (Click to select) A. -∞ B 0 C -1 2. A perfectly elastic demand curve is (Click to select) A. downward-sloping B horizontal C vertical D upward-sloping . Price elasticity of demand is equal to (Click to select) A. -∞ B 0 C -1 3. Along a linear demand curve that is neither perfectly inelastic nor perfectly elastic, price elasticity...
A perfectly elastic demand curve is: Select one: O a. upward sloping b. downward sloping Oc....

A perfectly elastic demand curve is: Select one: O a. upward sloping b. downward sloping Oc. horizontal O d. vertical Answers Jump to
If a demand curve for a good were completely vertical, it would be considered: Group of...

If a demand curve for a good were completely vertical, it would be considered: Group of answer choices perfectly elastic. perfectly inelastic. of unitary elasticity. relatively inelastic.

A perfectly ___ demand curve is _____. An example of a good with this type of demand is ______. A) elastic, horizontal,...

A perfectly ___ demand curve is _____. An example of a good with this type of demand is ______. A) elastic, horizontal, food B) inelastic, vertical, insulin C) inelastic, vertical, Pepsi
The following graph depicts demand. At point D, demand is: Select one: a. price inelastic. b....

The following graph depicts demand. At point D, demand is: Select one: a. price inelastic. b. price elastic. c. unit elastic. d. perfectly price elastic. 7 6 0 24 6 8 10 12 14 Quantity
om/courses/2456531/quizzes/5192042/take Question 6 1 pts The price elasticity of demand for a completely vertical demand curve...

om/courses/2456531/quizzes/5192042/take Question 6 1 pts The price elasticity of demand for a completely vertical demand curve is unitary elastic O perfectly elastic O elastic O perfectly inelastic 1 pts Question 7 If a 3 percent reduction in the price of a good produces a 5 percent increase in the quantity demanded, the price elasticity of demand over this range of the demand curve is unitary elastic

When large changes in price lead to no changes in quantity demanded, demand is perfectly Group of answer choices inelastic, and the demand curve will be vertical. inelastic, and the demand curve will be horizontal. elastic, and the demand curve will be

When large changes in price lead to no changes in quantity demanded, demand is perfectlyGroup of answer choicesinelastic, and the demand curve will be vertical.inelastic, and the demand curve will be horizontal.elastic, and the demand curve will be vertical.elastic, and the demand curve will be horizontal.
3. The demand for the product of a typical perfectly competitive firm is Select one: a....

3. The demand for the product of a typical perfectly competitive firm is Select one: a. perfectly inelastic, vertical b. perfectly elastic, horizontal c. downward sloping. d. upward sloping
O 31 2.859 On a linear demand curve, if the price of the good is zero...

O 31 2.859 On a linear demand curve, if the price of the good is zero we know the elasticity of demand none of these O Perfectly inelastic Perfectly elastic becoming infinitely large

3. Elastic, inelastic, and unit-elastic demand The following graph shows the demand for a good 80-t...

3. Elastic, inelastic, and unit-elastic demand The following graph shows the demand for a good 80-t 140??? Lt Demand QUANTITY (Units) For each region on the graph given in the following table, use the elesticity formule to identify whether the demand for this good is elastic (approximately) unit elastic, or inelastic Elastic Inelastic Unit Elastic Between X andY Between Y and Z Between W and X True or Faise: The value of the price elasticity of demand is not equal...