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
Shortage, Surplus and Price Mechanism: A shortage is the situation in which the demand exceeds supply, which means producers are unable to meet the market demand for the produc

definition and charactoristics of index numbers.problems while constructing index numbers

Describe how exchange rate is expressed in some nation In some nations, exchange rate is expressed using home currency as base currency. In UK for instance, Danish exchange rat

the difference between the AC and the AVC curve

The Widget Manufacturing Company must replace a widget machine, and is evaluating the capabilities of two systems. A requirement of management is that the machine chosen must be p

However, these results should be approached with due caution. The limitations and problems associated with VAR modelling have been outlined in this paper, therefore these observati

#C=100+0.8yd G=100 T=0.25y X=150 M=0.25yd 1) What is the level of equilibrium national income? 2) Estimate the budget surplus or deficit at the equilibrium national income. 3) Deri

ORDINAL THEORY: INDIFFERENCE CURVE APPROACH In indifference curve approach consumer is assumed to be rational, so that consumer's objective is to maximise her utility by choos

From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 mill

Exchange Rate Management: Following two  stage devaluation of the Indian rupee  in quick succession in July 1991, the  government introduced Liberalized  Exchange Rate System