Elasticity, Microeconomics

Assignment Help:
not that long ago we experienced the excitement of thinking we would have cheaper online books and free music. these visions that we had of a free market utopia that blinded us to the fact there were immutable facts about economics and one of the standards is price elasticity, unfortunately some dwell on the potential still. Those early days of e-books held the much promise for such a short time. E-goods are returning to the price levels which we thought they had left behind, again the inevitable price elasticity. The question I have is this...why is it so certain that price elasticity will cause those prices to return to levels they were at instead of staying lower based on the new technology?

Related Discussions:- Elasticity

Trade, Ask question #Minim1. what items should be put on the agenda of a ne...

Ask question #Minim1. what items should be put on the agenda of a new round of trade talks (and who wants these on the agenda), 2. why, and 3. the problems likely to be met in the

Demand and supply, draw the demand curve,when there is rise in the price of...

draw the demand curve,when there is rise in the price of a product on the demand of the product

Negative profit, Negative profit  FC + VC > R(q) MR > MC ...

Negative profit  FC + VC > R(q) MR > MC    Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp

Current cropping pattern - crop patterns , Current Cropping Pattern: ...

Current Cropping Pattern: It is evident from these data that foodgrains constitute the most dominant  crop group that is cultivated in India. It is estimated that total croppe

Production Possibility Curve, How does production possibility curve help so...

How does production possibility curve help solve central problems?

Cost function, how do minimum unit costs change with changes in fixed cost?...

how do minimum unit costs change with changes in fixed cost?

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

Willingness to pay, Suppose one were asked to recommend a price for the out...

Suppose one were asked to recommend a price for the output of a proposed downtown parking garage, so that the project would have as large a Net Present Value as possible.  In this

Arbitrage pricing theory, Arbitrage pricing theory is between one of two in...

Arbitrage pricing theory is between one of two influential economic theories of how assets are formed or priced in the financial markets and the other model is the capital asset pr

Write Your Message!

Captcha
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