Answer: 3/4 (38 out of 50)
Explanation: After being officially proposed, either congress or a national convention of the states, a constitutional amendment must then be ratified by 38 out of 50 of the states.
Answer:
The correct answer is a. the equilibrium quantity decreases, and the equilibrium price is unchanged.
Explanation:
A perfectly elastic demand is an extreme case in which quantity demanded falls to zero with any increase in price, and increases to infinity when price drops.
Now we have this relation clear, it is important to notice that the question is introducing a third variable, which is quantity supplied. When supply decreases, the price remains the same, since only at this price consumers buy the good. The only change that ocurred is related to the availability of the product in the market.
In a normal scenario, an elastic demand would respond to this decrease in supply, pushing the price up, since consumers are willing to pay more. But given that we assume that the demand is perfectly elastic, the price remains the same, otherwise demand would fall to zero.
