In order to graph the demand curve, the quantity demanded is plotted along x-axis and the price is plotted along y-axis. An image attached below shows the horizontal demand curve.

Horizontal demand curve, as its name indicates, is a horizontal line which is parallel to x-axis. Since, the slope of any line parallel to x-axis is 0, we can conclude that the slope of Horizontal demand curve is 0.

A horizontal demand curve can be observed for a perfectly competitive market. Since, its a perfect competition, the price of a product by all competitors will be the same. In this case, if a firm decides to increase the price, he will loose his market share as no customer will buy the product at increased price. They will rather go with the other competitor who is offering a similar product at lower price.

On the other hand, if a competitor decides to lower his price in such case, he will experience loss. Therefore, the competitors do not have the option to change the price. Therefore, we can say the price elasticity of demand in this case is 0.

So, option D describes the horizontal demand curve correctly.

3 0

2 years ago

Ismael made a scaled copy of the following

bixtya [17]

Answer:

Options (A), (B) and (C)

Step-by-step explanation:

In the given figure,

Length of side AD = 16 units

If this side is scaled by a factor = k

Then the length of the corresponding side will be = 16k

If 0 < k < 1,

Then length of the corresponding side will be less than 16.

[Example: If k = $\frac{1}{4}$

Therefore, scaled side of the corresponding side of the quadrilateral = $16\times \frac{1}{4}$ = 4]

That means length of corresponding sides may be 4, 6.5 and 12.

Options (A), (B) and (C) will be the answer.

8 0

3 years ago