Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Elastic Supply
Supply is said to be price elastic if changes in price bring about changes in quantity supplied in greater proportion. Thus, when price increases, quantity supplied increases in greater proportion. The supply curve is not steeply sloped and the elasticity of supply is greater than one.
When price rises from P1 to P2, quantity supplied rises in greater proportion from q1 to q2. This is the case when there are a lot of stocks of the commodity or the commodity can be produced within fairly short period of time so that when price rises, quantity supplied can be increased substantially.
Conversely, if price falls from P2 to P1, quantity supplied falls in greater proportion from q2 to q1. This is the case of a commodity which is easily stockable e.g. manufactured articles. When price falls, quantity supplied can be substantially reduced. The commodity is then stored instead of being sold at a loss or for very reduced profit.
Describe the Status goods of law of demand The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulen
Q. What is Technical Economies? The significant technical economies result from the use of specialised capital equipment that comes into effect only when output is produced on
Discuss the full cost pricing and marginal cost pricing method. Explain how the two methods differ from each other.
tce
1. What does a MNC have to consider that a domestic company does not, and how does this impact capital budgeting? in addition to the complications encountered in doing a capital bu
Q. Controlover Supply of Inputs - sources of monopoly? Furthermore, a monopoly situation may arise because of control over the supply of an essential input -skilled labour, raw
Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit
You have opened your own word processing service. You have already bought a special computer needed for word processing and paid $5,000 for it. However, due to the cost changes in
explain williamsons model of managerial discretion?
Uses of Indifference Curve Analysis Indifference curve analysis is useful when studying welfare economics as follows: They are used to indicate the amount of income and
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd