determinant of price elasticity of supply, Microeconomics

Assume there is a remote area in china with high population.The area is composed exclusively of apartments and is populated by low-income residents .The people tend to stay in that area because
(1) They cannot afford to live in other areas in China,
(2) They prefer to live with people of their own ethnic group,or
(3) There is discrimination against them in other areas.Rents paid are a very high percent of people'' income.

a. would the demand for apartments in this area be relatively inelastic or relatively elastic? state why
Posted Date: 10/9/2012 8:03:57 AM | Location : United States







Related Discussions:- determinant of price elasticity of supply, Assignment Help, Ask Question on determinant of price elasticity of supply, Get Answer, Expert's Help, determinant of price elasticity of supply Discussions

Write discussion on determinant of price elasticity of supply
Your posts are moderated
Related Questions

The Concept of Money: Money or paper currency serves three functions in any case: it is the medium of exchange, a store of value and the unit of account. Before paper money was


Question 1: Compare and contrast between perfect competition and monopoly. Which of the two types of market structures is efficient? Question 2: Prepare a short notes

The demand curve for oranges is given by the equation P = 5 - Q/200. The supply curve is given by P = Q/800. Q is measured in oranges per day and price is measured in dollars per o

Inflation is not possible under the gold standard.” Is this statement true, false, or uncertain? Explain your answer.

#question.hif indirect utility function is givenhow to derive the demand function .

Changing the Surveillance Framework: Part of the challenge entails reorienting surveillance, the process through which the BW institutions policy advice is delivered, to make

what is microeconomics

Using commodities as an example, explain the factors influencing the PES for such goods. The basic determinants of PES are time span included and the availability of producer s