Price change, Microeconomics

1.  Seller has ample time to adjust to price change.

2.  Buyer's response to small price change is significant.

3.  Buyers are faced with many options when deciding to make a purchase.

4.  Sellers do not have much time to adjust to price change.

5.  Buyers consider this item to be a necessity.

a.    Elastic demand

b.    Inelastic demand

c.    Inelastic supply

d.    Elastic supply

Posted Date: 2/23/2013 1:01:20 AM | Location : United States







Related Discussions:- Price change, Assignment Help, Ask Question on Price change, Get Answer, Expert's Help, Price change Discussions

Write discussion on Price change
Your posts are moderated
Related Questions
advantages and disadvantages

If the short run method to produce Q quantity is with full time workers L=0.025*Q, COST OF WORKER IN THE SHORT RUN IS w=20226.154, how do you derive the value of Q

How to I calculate the break-even point per unit in dollar amount and then determine whether there will be a profit or loss? Such as if the fixed costs were $75000. The variable co

Traditional inventory control based on the calculation of EOQ   At this point, it is worth considering some of the problems faced by companies using the simple inventory model

Hi I need help with elasticity. I think the problem has already been posted to your site.

what is ratios GNP? what is use of models in macroeconomics?

Lynne’s income is $2, 000 and she is risk averse. The probability of someone slipping on her stairs is 1 8 . If this happens, she will be sued for $1, 000 and will have to pay that

Economics- Definition Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people. Microeconomics h

1.      How can a nation and its producers determine whether or not it has a comparative advantage in producing a particular good or service? a 2.  The above figure show

the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition