Suppose the demand for a Czech novel translated into English is perfectly inelas

Question

Suppose the demand for a Czech novel translated into English is perfectly inelastic. Assume the initial price of the translated novel is $30.00 and the quantity demanded is 882 copies per year If the price of the translated novel increases by $100, then the quantity demanded will be copies per year. Next, suppose the demand for a mystery novel by John Grisham is infinitely elastic. In this example, assume the If the price of the mystery novel increases by $3 00, then the quantity demanded will be copies per year. initial price of the novel is $25.00 and the quantity

Explanation / Answer

1)

quatity demanded will be 882 copies per year is the answer

because perfectly inelastic means no change in quatity demanded for a change in price.

2)

zero is answer

as elastic infinitely means quantity demanded drops to zero for any increase in price.

the above are the answers

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