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!
ELASTICITIES OF SUPPLY AND DEMAND
– The percentage change in a variable is the complete change in the variable divided by original level of the variable.
– Thus the price elasticity of demand is also:
2. Interpreting Price Elasticity of Demand Values
1) Due to the inverse relationship between P and Q; EP is -ve.
2) If IEPI > 1, the percent change in quantity is more than the percent change in price. We state that the demand is price elastic.
3) If IEPI < 1, the percent change in quantity is less than the percent change in price. Then we say that the demand is price inelastic.
3. The basic determinant factor for price elasticity of demand is the accessibilty of substitutes.
– Many substitutes demand is price elastic
– Some substitutes demand is price inelastic
Price Elasticities of Demand
New developments
what is wage?
"Cross-Correlations of output(t) with" "x(t-1)" [3,] "output" "0.3" [4,] "consumption" "0.1
why is the point outside the production possibility curve(PPC)called unttianable
Sample Survey and Test Marketing: Under this method some representative households are selected on random basis as samples and their opinion is taken as the generalized opinio
CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects: a) The relative significance of different crops/crop groups in the overall area u
Just in Time Scheduling - JIT JIT techniques are being widely adopted by operations managers in manufacturing companies in the West. JIT ideas have not only had a profound im
Transfer Payments: Governments typically redistribute a share of tax revenues back to specified groups of individuals in form of several social programs (like welfare benefits, pub
what is demand function
SUMMARY OF THEORY OF PRODUCTION
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd