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Economics Homework Three Answers - Student Ten (view source)
Revision as of 01:23, March 9, 2011
, 01:23, March 9, 2011no edit summary
:Right, but note that income elasticity is specific to a particularly good, just as price elasticity is. (Minus 1).
:Right, but note that income elasticity is specific to a particularly good, just as price elasticity is. (Minus 1).
'''3. A nearly perfectly elastic demand curve is nearly''' ''vertical'' '''in shape; a nearly perfectly inelastic demand curve is nearly''' ''horizontal'' '''in shape.'''
'''3. A nearly perfectly elastic [[demand curve]] is nearly''' ''vertical'' '''in shape; a nearly perfectly inelastic demand curve is nearly''' ''horizontal'' '''in shape.'''
:The opposite is true. (Minus 1).
:The opposite is true. (Minus 1).