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NEW QUESTION: 1
In the pharmaceutical industry where a diabetic must have insulin no matter what the cost, the diabetic's
demand is considered to be:
A. Perfectly elastic.
B. Relatively inelastic.
C. Perfectly inelastic.
D. Relatively elastic.
Answer: C
Explanation:
Choice "b" is correct. When a good is demanded, no matter the price, demand is described as perfectly
inelastic. The demand "curve" is a vertical line at the quantity demand with price making no difference.
Choices "a" and "c" are incorrect. There is no such thing as perfect elasticity. However, the more elastic
demand is, the greater the change in quantity demand for price changes.
Choice "d" is incorrect. Insulin is an example of perfectly inelastic.
NEW QUESTION: 2
A. Option B
B. Option D
C. Option C
D. Option A
Answer: A,B
NEW QUESTION: 3
A. title " Today is: & today.";
B. title "Today is: sysfunc (today (), worddate)";
C. title "Today is: & sysdate. ";
D. title "Today is: &sysdate.";
Answer: D
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