Explain the concept of elasticity, Macroeconomics

Explain the concept of elasticity and describe why the supply of petrol in the short run is relatively inelastic.

 

Posted Date: 3/19/2013 5:44:42 AM | Location : United States







Related Discussions:- Explain the concept of elasticity, Assignment Help, Ask Question on Explain the concept of elasticity, Get Answer, Expert's Help, Explain the concept of elasticity Discussions

Write discussion on Explain the concept of elasticity
Your posts are moderated
Related Questions
1) Suppose you are dealt two cards from a standard deck of playing cards. a) What is the probability of being dealt a pair of aces? b)There are 13 possible pairs possible (Ac


how would you describe a neo-keynesian (or neoclassical) synthesis? and why did Joan Robinson label it "bastard Keynesian"

The U.K. produces and imports eggs. Suppose that the government imposed a quota on imports: Foreign suppliers could export no more than Q eggs (regardless of price). What effect do

Consider an international firm you are familiar with and what the firm needs to be concerned with when entering a foreign market. Specifically, in terms of the chapters you covered

what does phillip curve signify? how do you reconcile the difference in the shap of the curve in the short run and the long run?

the difference between the AC and the AVC curve

Q. How to evaluate total savings? Total savings Total savings S(r) depends positively on the real interest rate Remember that total saving

If Starbucks's marketing department estimates the income elasticity of demand for its coffee to be 2.9, how will the prospect of an economic bust (expected to decrease consumers' i

Business Cycles  Economic growth is not a continuous process. Superimposed on the long-term trends are short-term fluctuations in the levels of economic activity and\or in grow