Classify and describe elasticity

Assignment Help Microeconomics

Reference no: EM132439475 , Length: word count:600

Assessment - Elasticity and Products

Instructions

Classify: Elasticity Impact

Evaluation Title: Elasticity and Products

The assignment focuses on elasticity in microeconomics and how it impacts, influences, and shapes various products within an economic market. For this assignment, you will be addressing a series of questions around elasticity and will be required to conduct additional research in writing your responses. You will also provide, in your own words, definitions and examples of elasticity types. The APA formatted paper will be separated into two parts.

Please be sure to validate your opinions and ideas with citations and references in APA format

You must use APA Formatting for this paper.

This paper should be at least 600 words in length.

You must research and utilize at least 3 resources in creating this paper.

In a Microsoft Word document, complete the following.

Part 1: Elasticity and Products

Choose any five products that exist within an economic market then classify and describe their ‘elasticity' (relatively inelastic, relatively elastic, perfectly elastic, perfectly inelastic, unitary elastic).

In each case, please explain what would occur if:

income increased
loss of job
a substitute was introduced
there was a sudden shortage of the product

Part 2: Examples of Elasticity
In your own words, please define, describe, and use an example for each of the following terms using a minimum of 50 words each.

Unitary Elastic
Perfect Inelasticity
Income Elasticity of Demand
Cross Elasticity of Demand

Reference no: EM132439475

Questions Cloud

Prepare marketing plan : Prepare Marketing Plan. Target Market: Who are you trying to reach with your marketing activities? Promotional Plan: How will you reach your target market?

Discuss how the affordable care act : Is health care commodity or social good? Discuss how the Affordable Care Act supports either version of your view of health care as a commodity or social good.

Identify the methods by which toxicants enter the body : Identify the methods by which toxicants enter the body. Provide a brief description and at least one example for each method.

Discuss the plan on majoring at National : Discuss the plan on majoring at National?What kinds of writing do suspect have to do in field? Do any publications in field-journals?

Classify and describe elasticity : Economic market then classify and describe their elasticity - addressing a series of questions around elasticity and will be required to conduct

Explain in detail the medical information : Explain in detail the medical information that may be obtained from tumour marker screening by giving specific example in relation to lung

Structure of the phosphordiester backbone of a dna strand : Draw the reaction how an RNA strand can easily cleave itself if the pH is high, and why this is not possible with a DNA strand.

Use of fertility drugs and ovarian cancer : Stanford University medical researchers conducted a study on the correlation between the use of fertility drugs and ovarian cancer.

Describe the cost or budget justification : In this assignment, you will propose a quality improvement initiative from your place of employment that could easily be implemented if approved. Assume you.

User Account

All Pages