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Debora [2.8K]
2 years ago
4

A rancher in Oklahoma decides to raise the price of her beef by 19% over the prevailing market price. If the demand for beef is

perfectly elastic, this rancher's quantity demanded will:
a. fall to 0.
b. not change.
c. increase slightly.
d. fall slightly.
Business
1 answer:
Yuliya22 [10]2 years ago
7 0

Answer:

a. fall to 0. 

Explanation:

When a good is perfectly elastic, a rise in the price of the good would make the demand for the good to fall to zero .

The demand curve for a good with perfect elasticity is horizontal.

If the demand for a good is perfectly inelastic, a change in price has no effect on the quantity demanded.

Demand is inelastic when a change in price has a little effect on the quantity demanded.

Demand is elastic when a change in price has a great effect on the quantity demanded.

I hope my answer helps you.

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In 1970 Professor Fellswoop earned $12,000; in 1980 he earned $24,000; and in 1990 he earned $36,000. If the CPI was 40 in 1970,
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Answer:

In 1980

Explanation:

Year        Salary        Percentage Salary Increase        CPI Increase

1970       $12,000     -                                                      -

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1990       $36,000    50                                                   83.3

As can be seen in the table, the Professor's salary increase from 1970 to 1980 was twice as much as the CPI increase during the same period.

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Read 2 more answers
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Answer:

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