Price-maker firms never want to produce within the inelastic part of the demand curve because there are few acceptable product substitutes, and a shorter adjustment period, which may impact overall production in a negative manner.
Demand curve will be perfect inelastic
A perfectly inelastic demand curve will be completely horizontal and means that consumers would any price for a particular good, which is almost impossible. The closer to being horizontal a demand curve is, the more inelastic the demand.
When supply and demand are perfectly elastic/inelastic
boobs
yes the demand curve is perfectly inelastic and horizontal
Demand curve will be perfect inelastic
A perfectly inelastic demand curve will be completely horizontal and means that consumers would any price for a particular good, which is almost impossible. The closer to being horizontal a demand curve is, the more inelastic the demand.
When supply and demand are perfectly elastic/inelastic
boobs
A verticle demand curve, where a change in price does not effect quantity.
It is false that the steeper the demand curve the less elastic the demand curve. The steeper line is used in economics to indicate the inelastic demand curve.
faces a demand curve that is inelastic throughout the range of market demand. faces a perfectly inelastic demand curve. is a price maker. is also able to dictate the quantity purchased
yes the demand curve is perfectly inelastic and horizontal
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
A monopoly typically produces in the inelastic part of the demand curve because it has control over the quantity supplied and can set prices higher without losing too many customers. This allows the monopoly to maximize its profits by charging higher prices for its products.
See the related link. A perfectly inelastic demand would be a line straight up and down. That would show that demand is constant regardless of the price.
because the ordinary demand curve ignores the income effect of price changes.also since the compensated demand curve is less inelastic than an ordinary demand curve.