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USPshnik [31]
3 years ago
5

Suppose an early freeze affects the market for oranges. The equilibrium quantity in this market will not change after the change

in supply if the demand curve were:
1. perfectly horizontal.
2. perfectly vertical.
3. downward sloping.
4. upward sloping.
Business
1 answer:
BlackZzzverrR [31]3 years ago
3 0

Answer:

2) perfectly vertical

Explanation:

When the price elasticity of demand is perfectly inelastic, the demand curve is perfectly vertical. This means that the quantity demanded will remain the same no matter what price.

In this scenario, the supply curve for oranges shifted to the left due to the early freeze, which results in a price increase at every level of quantity demanded. Since the demand is perfectly inelastic, the new equilibrium price will be determined by the how much the supply curve shifts.  

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How is a game restarted if the ball is kicked out of bounds over the goal-line by the defensive team in soccer?
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2 years ago
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Carmex Lip Balm was created in 1937 by Alfred Woelbing and his wife in his family kitchen in Wauwatosa, Wisconsin. Over the next
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3 years ago
A large hospital has an annual demand for 70.000 booklets on healthy eating. It cost ​$.75 to store one booklet for a​ year, and
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Answer:

It will order 3,865 booklets

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<u>How to Remember:</u>

Demand per year and order cost goes in the dividend.

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