determinant of price elasticity of supply, Microeconomics

Assignment Help:
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

Related Discussions:- determinant of price elasticity of supply

Labour economics, Consider the following flow (in thousands of people) betw...

Consider the following flow (in thousands of people) between the various labour market states in a particular month:

Microeconomics, Which of the following statements is correct? a. Consumers ...

Which of the following statements is correct? a. Consumers have the ability to buy everything they desire. b. A consumer''s budget line shows the limits to what a consumer can buy.

Competitive equilibrium, (a)    Explain why the Pareto criterion does not p...

(a)    Explain why the Pareto criterion does not provide a complete ordering of the ordinal utility space (b)   The competitive equilibrium is the only allocation where the gain

Distinguish between fiscal and monetary policy, Problem: (a) Distingui...

Problem: (a) Distinguish between fiscal and monetary policy, giving examples where appropriate. (b) Explain how fiscal and monetary policies might be used by a government

Forms of globalization, Globalization: A generalized historical process by ...

Globalization: A generalized historical process by which more economic activity occurs across national borders. Forms of globalization include international trade (imports and expo

Price, why sellers and producers keep pricess lower

why sellers and producers keep pricess lower

Elasticity, How much would the price of Good Z (Pz) have to change in order...

How much would the price of Good Z (Pz) have to change in order to increase the consumption of Good C by twenty five percent (25%)?

Transition elements, why d block elements are called inner transition eleme...

why d block elements are called inner transition elements?

Nature of expectations in keynes' theory, Nature of Expectations in Keynes'...

Nature of Expectations in Keynes' Theory : The above discussion on the nature of expectations in Keynes' theory may be summarised as follows: 1) In forming long-term expec

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd