0
Why would you expect firms that set price to do so in the elastic portion of their demand curve?
Wiki User
∙ 14y ago
I'm having trouble finding a descent response
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Would a monopolist ever operate in the in elastic portion of demand curve?
yes
What will happen to total revenue if unitary elastic over a portion demand curve change upward by one percent?
What_will_happen_to_total_revenue_if_unitary_elastic_over_a_portion_demand_curve_change_upward_by_one_precent
When does supply curve look like a demand curve?
When supply and demand are perfectly elastic/inelastic
What is the distinctive feature of the demand curve of a firm in pure competition?
The demand curve would be perfectly elastic.
An item's demand curve will be elastic when?
substitutes are unavailible
Would a monopolist ever operate in the in elastic portion of demand curve?
yes
Does a monopoly produce at the inelastic or elastic part of the demand curve?
A monopoly produces at the elastic portion of the demand curve. If producing at the inelastic portion of the deman curve, the monopoly could lower the quantity produced and raise the price to achieve more total revenue.
True or False the steeper the demand curve the less elastic the demand curve?
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.
What will happen to total revenue if unitary elastic over a portion demand curve change upward by one percent?
What_will_happen_to_total_revenue_if_unitary_elastic_over_a_portion_demand_curve_change_upward_by_one_precent
When does supply curve look like a demand curve?
When supply and demand are perfectly elastic/inelastic
What is the distinctive feature of the demand curve of a firm in pure competition?
The demand curve would be perfectly elastic.
An item's demand curve will be elastic when?
substitutes are unavailible
The labor demand curve of a purely competitive seller perfectly elastic?
yes the demand curve is perfectly inelastic and horizontal
Along a linear demand curve as the price rises demand becomes more?
elastic
What is rectangular hyperbola demand curve?
This is the curve which shows the unitary elastic demand where the change in quantity demanded equals with the change in price.
Why is it difficult to judge elasticity of demand or supply if you are merely observing the appearance of a demand or supply curve on a graph?
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
Which is inconsistent with an elastic demand curve?
The price elasticty coefficient is fractional.
