We've found 5 Elastic Demand Curve tests

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Deacon Kirby
39 terms
Elastic Demand Curve Industrial Organization Principles Of Economics: Microeconomics Principles Of Marketing
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Paulina Ratliff
63 terms
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Jacob Patel
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Economics Elastic Demand Curve
Economics Chapter 4 Test Questions – Flashcards 40 terms
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Martha Hill
40 terms
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Richard Molina
48 terms
A perfectly inelastic demand curve is shown
By a straight vertical demand line (top to bottom)
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A perfectly elastic demand curve is shown
By a straight horizontal demand line (left to right)
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Which of the following is not necessary for price discrimination to​ exist? A. The ability to prevent resale of the product or service. B. The ability to separate markets at reasonable cost. C. A perfectly elastic demand curve. D. Buyers in various markets must have different price elasticities of demand.
C. A perfectly elastic demand curve.
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Perfectly Inelastic Demand Curve
PƐD = 0 %△ in QD = 0% No change in demand regardless of price change (therefore increase in price increases revenue). EG: drugs.
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Perfectly Elastic Demand Curve
PƐD = – infinity Any change in price leads to demand falling to 0. (never a decrease in price because this decreases revenue). Hypothetical. Lots of perfect substitutes.
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If the manufacturer of a sophisticated new consumer electronics product determines that many target consumers qualify as “innovators” and “early adopters” with relatively inelastic demand curves, the company should use the ________ pricing strategy.
42) If the manufacturer of a sophisticated new consumer electronics product determines that many target consumers qualify as “innovators” and “early adopters” with relatively inelastic demand curves, the company should use the ________ pricing strategy: A) gray market B) skimming C) penetration D) market holding E) cost based