For several years, a company with a patent can enjoy ______.

If the quantity demanded changes by an infinitely large amount for a given change in price, then demand is

A) perfectly inelastic. B) perfectly elastic. C) elastic. D) inelastic.

Which of the following is NOT a likely impact on the bond market if corporations become convinced that a robust economic recovery is underway?

A) increased demand for bonds B) increased supply of bonds C) lower bond prices D) higher interest rates