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When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity will be:

A. Zero (perfectly inelastic)

B. Equal to one (unitary elastic)

C. Infinite (perfectly elastic)

D. None of the above

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  1. According to Leontief technology, there:
  2. Economics define technology as:
  3. A monopoly producer has:
  4. Cross-elasticity of demand or cross-price elasticity between two perfect complements will be:
  5. The game theory takes into consideration:
  6. Utility is a function of:
  7. At low prices, demand is likely to be:
  8. The total revenue curve for monopolist is the shape of:
  9. Change in demand (rise and fall of demand) is:
  10. MC is given by:
  11. Discriminating monopoly implies that the monopolist charges different prices for his commodity:
  12. If X and Y are close substitutes, a rise in the price of X will lead to:
  13. The proportionality rule in production requires that the ratios of MP and factor prices are:
  14. In the perfect competition, there is a process of:
  15. A firms profit is equal to:
  16. Supply curves are most elastic:
  17. In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded…
  18. A country is advised to devalue (reduce external value of) its currency only when its exports face:
  19. In modern theory, LAC = LMC after the attainment of:
  20. The production possibility curve (PPC) is concerned with:
  21. At the shut-down point in perfect competition:
  22. The output where TC = TR & AC = AR:
  23. The long-run AC curve is constructed from:
  24. Under Bandwagon effects, people use those goods which are used by their:
  25. Income-elasticity of demand is expressed as:
  26. Income -elasticity of demand will be zero when a given change in income brings about:
  27. The short-run supply curve of the perfectly competitive firm is given by:
  28. Production is a function of:
  29. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  30. If the demand curve is horizontal then its slope is: