View the step-by-step solution to:

How do we draw a supply and demand curve for a limited (inelastic) supply of a free service, where the demand has doubled in ten years?

How do we draw a supply and demand curve for a limited (inelastic) supply of a free service, where the demand has doubled in ten years? I know the supply is vertical, but not sure how to display the demand where the price is always zero?

Top Answer

The supply curve will be a vertical line as the same amount of services are... View the full answer

INELASTICSEERVICE.JPG

Sign up to view the full answer

Other Answers

We also know that supply is fixed, i.e. it is vertical. This means that the demand curve is not intersecting... View the full answer

11843729.png

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online