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
Stan Garner resides in Illinois and promotes boxing matches for Super sports, INC. an Illinois corporation. Garner created the connect of "ages" promotion- a three fight series of

What was Real GDP for 2009? What does GDP tell us? How did GDP change from 2008? What caused these changes? What was GNP for 2009? What is the difference between GDP and GNP?

Foreign Direct Investment and Development: In neo-classical economic theory, FDI involves  the movement of capital from capital abundant  to capital scarce host countries. Mun

Suppose there are two investors. One has a project to build a factory; the other has a project to visit casino and gamble on roulette. Which investor has a greater incentive to iss

describe how open market policy can be used to stimulate economic activity in the country

ASuppose an economy has overbuilt and suffers from excess capacity A recession ensues due to firms cutting back on expenditures. Is deficient demand more easily remedied by monetar

Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape?   The curve is bowed-out because some resources are better suited for the

Following on papers by Pacala and Socolow,1 The Carbon Mitigation Initiative at Princeton University, http://cmi.princeton.edu/ has summarized carbon stabilization strategies at

factor for long run trend of term of trade

Q. Definition of Money? Before talking over macroeconomic models we should define what we mean by money. Money has aninteresting and long history and an understanding of how we