Explain why each of the following factors may influence the, Microeconomics

Ask qExplain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commodity as a ‘luxury’ or a ‘necessity’. (ii) The narrowness of definition of the commodity. (iii) The length of the period under consideration (iv) The availability of substitutes for the commodityuestion #Minimum 100 words accepted#
Posted Date: 10/2/2015 11:50:51 AM | Location : Mauritius







Related Discussions:- Explain why each of the following factors may influence the, Assignment Help, Ask Question on Explain why each of the following factors may influence the, Get Answer, Expert's Help, Explain why each of the following factors may influence the Discussions

Write discussion on Explain why each of the following factors may influence the
Your posts are moderated
Related Questions
Define Disposable Incomeand dumping Disposable Income :  The amount of income left after as deductions as income tax, pension contributions and national insurance. More genera

construct your own version of a production possibility curve and use it to explain scarcity, opportunity cost and choice

You should find two articles, of which one should report on changes that make farming more productive (more food per acre, hour or other unit of inputs), and another about changes

static & dynamic multiplier of keynision theory


Hi, Can you help with writing journals homework? It should be in english as a second language. Ten pages different topics about Karl Marx economics views. I will give you the t

Learning curve implies:  1) The requirement of labor falls per unit.  2) Costs will be high at 1 st and then will fall with learning.  3) After eight years the labor requ

how to control principal agent

The Industry's Long-Run Supply Curve * Long-Run Elasticity of Supply   1) Constant-cost industry Long run supply is horizontal Small increase in price will induc

technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti