--%>

Define feature of perfectly inelastic demand curve

A perfectly inelastic demand curve: (w) is an imaginary mathematical construct, and does not exist within reality. (x) corresponds to a perfectly horizontal line. (y) represents a good which absorbs only a small portion of consumers’ budgets. (z) occurs while a change within total revenue is disproportional to a change into price.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

   Related Questions in Microeconomics

  • Q : Oligopoly market Elucidate why are

    Elucidate why are firms mutually interdependent in oligopoly market.

  • Q : Decreasing price of Complementary Goods

    The increase in demand for tartar sauce would be a probable result of: (1) A reduction in the price of fish. (2) An raise in the price of tartar sauce. (3) A bumper crop of the tartar sauce. (4) A raise in the price of fish. (v) The reduction in price

  • Q : Define Indirect taxes Indirect taxes :

    Indirect taxes: Whenever the liability to pay tax is on one person and the burden of that tax falls on another person, it is termed as indirect tax. Illustrations are: sales tax, excise duty, VAT, tax on services and so on.

  • Q : Critics of the simple limit pricing

    Critics of the straightforward limit pricing strategy argue about that: (w) sunk costs are not important in deterring entry. (x) for limit pricing to work, there should be a credible threat to keep old output levels. (y) this is rational to expect the

  • Q : Explain Subsidiary function Elucidate

    Elucidate the Secondary or Subsidiary function? Answer: 1) Standard of deferred payments: Money is executing as deferred Payment

  • Q : Discretionary fiscal policy Choose the

    Choose the right answer from following. Discretionary fiscal policy refers to: A) any change in government spending or taxes that destabilizes the economy. B) the authority that the President has to change personal income tax rates. C) changes in taxes and government

  • Q : Government analysts discount future

    When the interest rate is 10 percent yearly and government analysts discount the future benefits by a public project at 5 percent per year, then there will be an overstatement of the: (w) present value of the future benefits. (x) present value of aver

  • Q : Advantage of law of equivalent marginal

    Behavior most compatible along with the law of equivalent marginal advantage occurs while: (w) shoppers exhaust their budgets upon nondurables and services. (x) every firm uses similar markup over cost to set prices. (y) identical twins work in evenly

  • Q : Horizontal demand curve facing purely

    The demand curve facing a purely competitive firm is: (w) horizontal. (x) vertical. (y) downward sloping. (z) the horizontal summation of individual demand curves. Can someone explain/help me with best solution abo

  • Q : Supply curve The short-run industry

    The short-run industry supply curve is found by what?