Which of the following is a difference between a perfectly elastic demand curve and a perfectly inelastic demand curve?
a. A perfectly elastic demand curve is parallel to the horizontal axis, while a perfectly inelastic demand curve is parallel to the vertical axis.
b. A perfectly elastic demand curve is parallel to the vertical axis, while a perfectly inelastic demand curve is parallel to the horizontal axis.
c. A perfectly elastic demand curve is downward sloping, while a perfectly inelastic demand curve is upward sloping.
d. A perfectly elastic demand curve is upward sloping, while a perfectly inelastic demand curve is downward sloping.
a
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If the optimal forecast of the return on a security exceeds the equilibrium return, then
A) the market is inefficient. B) no unexploited profit opportunities exist. C) the market is in equilibrium. D) the market is myopic.
A basic characteristic of the firms in an oligopoly market structure is that they are: a. large (relative to the total market) and interdependent. b. large (relative to the total market) and independent
c. small (relative to the total market) and interdependent. d. small (relative to the total market) and independent.