elasticity

what is infinite elasticity?

#### Related Questions in Microeconomics

• ##### Q :Monetary revenue generated by firm Can

Can someone help me in finding out the most precise answer from the given options. The Monetary revenue produced by the firm throughout a specific period minus its explicit costs gives up: (1) Value added. (2) Gross cash flow. (3) Tax liability. (4) Economic income. (

• ##### Q :Right-to-Work Laws-Union membership Can

Can someone help me in finding out the right answer from the given options. When it is illegal to need a union membership as the condition of employment for a firm, then the firm: (1) Needs all the employees to sign yellow dog contracts. (2) Can’t sign an agency

• ##### Q :Total utility and marginal utility Can

Can someone please help me in finding out the accurate answer from the following question. The paradox of the value (also termed as the diamond-water paradox) occurs from: (1) High transaction costs. (2) Low transaction costs. (3) Failures to differentiate among the m

• ##### Q :Average variable costs per generic of

Average variable costs per generic 2×4 of this pure competitor’s equal roughly: (w) \$0.20 (20¢ per 2×4). (x) \$1.00 per 2×4. (y) \$1.70 per 2×4. (z) \$2.10 per 2×4.

##### Q :Problem on Hicks model of collective

The model of collective bargaining designed by the John Hicks graphically resolves for the level of: (i) Wage rate and length of strike. (ii) Fringe advantages and safety cases on the job. (iii) Wage rates and union dues. (iv) Union control over the w

• ##### Q :Determine price and quantity by

The price elasticity of demand at a specified price and quantity is demonstrated by the ratio of the relative as: (w) change within quantity demanded over a specified proportional price change. (x) reciprocal of the price elasticity o

• ##### Q :Price elasticity of demand at high and

Moving by left to right along demand curve D, then price elasticity of demand for cheesy fried grits of Pixie is mostly: (w) positive, then unitary, then negative. (x) constant and equivalent to one. (y) greater at high prices than at low prices. (z)

• ##### Q :Comparison of absolute intensity among

The absolute intensity of one consumer’s preferences and tastes as compared to the absolute intensity of the other consumer’s tastes and preferences is as: (1) Dependent on the supplies of specific products. (2) Individually recognized in

• ##### Q :Constant price elasticity plausible for

Constant price elasticity equivalent to one for socket sets would be mainly plausible for demand curve as: (1) D1D1. (2) D2D2.  (3) D3D3. (4) D4D4. (5) D

• ##### Q :Problem on Analysis Paralysis Consumers

Consumers confronting huge arrays of choices whenever they contemplate choosing one brand of toothpaste out of 50, or whether to purchase pulp-free, not-from-concentrate orange juice, calcium-fortified, or the extra-pulp, non-calcified, from-concentrate version, frequ