Product has perfectly inelastic demand

Assignment Help Business Management
Reference no: EM131224414

Which products, if any, will have a perfectly inelastic demand ? Pick one of the products. How, if at all, could consumers adjust to a rise in the product's price ? Compare the elasticity of demand for that product in the short and long run. Would it change, and of so in what way ? Decide whether you think the product has perfectly inelastic demand. To say it another way, decide whether you think the demand curve will be vertical, or just quite sleep.

Reference no: EM131224414

Questions Cloud

How to inspire your employees to make them more engaged : How to Inspire Your Employees to Make Them More Engaged. A leader has to know the difference between leading through influence and leading with authority.
Increase in government expenditure give : Why might an increase in government expenditure give rise to inflation?
Determine how the process might be approached differently : Imagine your manager has requested that everyone in the company take the StrengthsFinder test. Now, your manager has asked you to put together a training tool on how to best coach and develop employees in the decision making process who have varied s..
Karl marx theories of capitalism : What are the differences between Adan Smith's and Karl Marx's theories of capitalism? (The main ideas behind each of these two theories)
Product has perfectly inelastic demand : Pick one of the products. How, if at all, could consumers adjust to a rise in the product's price ? Compare the elasticity of demand for that product in the short and long run. Would it change, and of so in what way ? Decide whether you think the ..
Was there a point where more than two riders tied : Graph and write an equation in terms of x and y, showing the distance each rider travels. Let x represent time in seconds and y represent the distance in meters. Extend your graph appropriately.
Marginal rate of substitution for utility function : Jackie has the following utility function:U(D, W) = D + 2lnW Where D = aerobics DVDs and W = pairs of walking shoes.Jackie has an income of $100, the price of an aerobics DVD (PD) = $20, and the price of a pair of walking shoes (PW) = $20.
How can one protect against virus outbreaks in organization : These viruses combined have caused damages into the billions of US Dollars. How can one protect against virus outbreaks in an organization? What are the common causes of this problems? How would use address this troublesome trend?
Everywhere a monetary phenomenon : Although inflation is always and everywhere a monetary phenomenon, explain why the initial source of a hyperinflation is typically related to the fiscal policy.

Reviews

Write a Review

Business Management Questions & Answers

  Legal action against a client for payment

Using Westlaw, find one recent case in which a law firm had to pursue legal action against a client for payment. Summarize the case and include a citation to it.

  Rate of return on investment

This firm paid a dividend of $13.5 cents per share during the year. What was the return ($) to holding Omega's shares during 2015? What is the rate of return on investment?

  Show discussion on corporate venturing

There are three approaches to corporate venturing; the first is focused corporate venturing, the second is a dispersed corporate approach, and the third is the concentrated venture approach. True or false?

  Global expansion assessment

Using the model found in the readings, determine whether your organization should expand globally and analyze how globalization will affect your organization's business functions. If your organization is not a candidate for globalization, you will de..

  Determine the cost of the additional cash discounts taken

Annual credit sales are $3.5 million, the variable cost ratio is 60 percent and the required pretax rate of return (i.e., the opportunity cost) on receivables investment is 14 percent. The company does not expect its inventory level to change as a..

  Coupon rate should the dairy delight set

The Dairy Delight wants to raise $1.0 million by selling some coupon bonds at par. Comparable bonds in the market have a 6.5 percent annual coupon, 15 years to maturity, and are selling at 98.42 percent of par. What coupon rate should The Dairy De..

  Do you agree or disagree a cities should use better

Illustrate what is the problem with that view of "public use"? Do you agree or disagree a cities should use that right to make the city better?

  Is this unethical marketing

Is this unethical marketing? Explain why or why not.

  Describe senge five disciplines

The learning organization is affected by both the individual and the organizational climate. In a two- to three-page paper (excluding the title and reference pages), describe Senge's five disciplines and the characteristics of an organizational cl..

  Benefits and challenges while working in group

What were some benefits and challenges you faced while working in this group?

  Explain world business culturevisit world business culture

explain world business culturevisit world business culture and choose two countries that appear to be culturally

  Explain any legal issues regarding your selected clause

How your contract clause can be applied in a business managerial setting for either a personal, real, or IP dispute or an IP property clause regarding either owner of IP or trade secrets.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd