If good or service is necessity rather than luxury

Assignment Help Business Economics

Reference no: EM131238850

If good or service is a necessity rather than a luxury then the: a) elasticity of demand for the good or service is likely to be more inelastic. b) elasticity of demand for the good or service is likely to be more elastic. c) elasticity of supply for the good or service is likely to be more inelastic. d) elasticity of supply for the good or service is likely to be more elastic.

Reference no: EM131238850

Questions Cloud

How would you rate yourself on building strategic networks : How would you rate yourself on building strategic and operational networks? Did you build them consciously or unconsciously? What strategies did you use to build them? How do you think you could have improved your networks?

Find subgame-perfect equilibrium from strategic form of game : Consider a game in which there are two players, A and B. Player A moves first and chooses either Up or Down. If A chooses Up, the game is over, and each player gets a payoff of 2. If A moves Down, then B gets a turn and chooses between Left and Right..

Consumers sentiments about the new product line : Assume you work for a large consumer packaged-goods firm that has discovered that its latest line of snack foods is moving very slowly off store shelves. Recommend a stratergy for listening to what consumers are saying on blogs, review sites, and the..

Defines and describes emotional intelligence : What risks or challenges might a health care manager encounter if he or she has not mastered these objectives? Explain. How will accomplishing these objectives support your success in management?

If good or service is necessity rather than luxury : If good or service is a necessity rather than a luxury then the:

The market for synthetic leather baseball gloves : If aliens come and take a large percentage of our cows what happens in the market for synthetic leather baseball gloves?

What would be the full economic price of this legislation : 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 million in withdrawals from other banks’ ATM machines. What would be the f..

How does the federal reserve really influence interest rate : How does the federal reserve really influence the interest rates and cause them to go up and down? Also when the federal reserve sells securities they take money out of the economy because banks buy the securitie.s But my question is what kind of sec..

How did demographic change described under peopling impact : How did demographic change described under "Peopling" impact the developments that are listed under "Work, Exchange and Technology

User Account

All Pages