Answer:
Demand drops to zero
Explanation:
Infinite elasticity of demand is also called perfect elasticity of demand.
In this scenario the demand for a product is attached to it's price.
There is an infinite change in the quantity demanded as a result of change in price.
Graphically it is a horizontal demand curve as represented in the attached
Even a small increase in price will cause demand to fall to zero.
Examples are luxury goods such as high end cars and expensive jewelry.
<span>The nash</span> equilibrium would be A. <span> bp and the mini-mart will both not advertise.
The nash equilibrium happens when all of the competitors choose the decision that give the optimal outcome for both of them.
If Bp and mini-mart both choose not to advertise they both will have a similar profit.</span>
Answer:
The correct answer is letter "D": more inelastic.
Explanation:
When its price changes, the supply, and demand for an inelastic good or service are not dramatically impacted. Whether the price of an inelastic product goes up or down, the buying habits of consumers remain roughly the same. <em>Prescription drugs, food, clothing, </em>and <em>gasoline</em> are common examples of inelastic goods.
Thus, <em>if the price of gasoline doubles tonight, that price would be considered more inelastic tomorrow compared to the current price until today than comparing the doubled price during the course of the upcoming two years</em>.
Answer:
Depends on the amount of points you have, as long as you have 10 points at all times you can always a question. It is pretty much unlimited until you run out of points, once you run out you can always answer someones questions to get more points to ask more questions!
Explanation:
Answer:
Qualifying widower with a dependent child
Explanation:
By filing as a widower with dependent child (the child is a necessary qualification requirement), Bob can use the same tax bracket and retain the same benefits as filing as married. This means that his income will be taxed at a lower rate than if he had filed as single, and he will obtain the same deduction as a married couple (twice the deduction for a single filer).
