Answered: the elasticity of the demand curve is…

the elasticity of the demand curve is infinite, what is its shape? a) parallel to the quantity axis B) Bell curve NS) straight from the origin D) parallel to the price axis TO) isosceles

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 1SCQ: From the data in Table 5.5 about demand for smart phones, calculate the price elasticity of demand...

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Question

26-

If the elasticity of the demand curve is infinite, what is its shape?

a)	parallel to the quantity axis

B)	Bell curve

NS)	straight from the origin

D)	parallel to the price axis

TO)	isosceles hyperbola

Defintion Defintion Curve that represents the graphical relationship between the total supply of goods and services and the price level in the economy. When the price level increases, producers tend to supply more of a product in the market to earn a higher revenue or vice versa.

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