determinant of price elasticity of supply, Microeconomics

determinant of price elasticity of supply, Microeconomics

Assignment Help:

Assume there is a remote area in china with high population.The area is composed exclusively of apartments and is populated by low-income residents .The people tend to stay in that area because
(1) They cannot afford to live in other areas in China,
(2) They prefer to live with people of their own ethnic group,or
(3) There is discrimination against them in other areas.Rents paid are a very high percent of people'' income.

a. would the demand for apartments in this area be relatively inelastic or relatively elastic? state why

Related Discussions:- determinant of price elasticity of supply

MARKET TARGETING STATERGIES, A MANUFACTURING UNIT IS INTERESTED IN DEVELOPI...

A MANUFACTURING UNIT IS INTERESTED IN DEVELOPING A BENEFIT SEGMENTATION OF THE CAMERA MARKET. SUGGEST SOME MAJOR BENEFIT SEGMENT WITH MARKET TARGETING STRATEGIES?

Global Competition, The distinction between supply and the quantity supplie...

The distinction between supply and the quantity supplied is best made by saying that

Development administration, Development Administration: Since the Gove...

Development Administration: Since the Government has been entrusted to manage economic and business activities, it was found difficult to manage the economic policy with the t

Change in consumer surplus, a. Generally, there will be a difference betwe...

a. Generally, there will be a difference between the CV and the EV. Why? b. The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it

Demand and supply, what happens when price is fix and there is a change of ...

what happens when price is fix and there is a change of the supply and demand curve

Pure competition markets, what is pure competition markets?

what is pure competition markets?

Workers'' co-operative, Workers' Co-operative: Another form of privat...

Workers' Co-operative: Another form of privatisation is transfer ofownership of a loss-making concern to the workers. Mr. R. Ganpati, formerChairman of the Board of Industria

Natural resource economics, Normal 0 false false false ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Excess capacity, the prevalence of excess capacity is the direct consequenc...

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

Measures to control inflation, Measures to control inflation: Fiscal po...

Measures to control inflation: Fiscal policy is one of the two main macroeconomic policies used to control aggregate demand and thereby achieve economic stability. Fiscal meas

Write Your Message!

Name

Email id

Message

Verfication Code

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!

Submit Assignment

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