A perfectly inelastic demand curve
a. Is a horizontal curve parallel to the horizontal axis
b. Has an elasticity of demand between 0 and 1
c. Represents the demand curve of a product with no close substitutes
d. None of the above
c
Economics
You might also like to view...
Tax can fall disproportionately on certain income groups. High-income households (HH) are impacted by gasoline taxes the most.
a. true b. false
Economics
Positive incentives: a. increase benefits or reduce costs
b. decrease the amount of affected behaviors. c. increase the amount of affected behaviors. d. Do both a. and c.
Economics