Factors determining elasticity of demand, Managerial Economics

Assignment Help:

Factors determining Elasticity of demand

Ease of substitution.
Nature of the commodity i.e. whether it is a necessity of life, luxury or addictive.
Consumers income.
The number of uses to which the good can be put.
Time factor.
The prices of other products.
Advertisements especially the persuasive ones.
Whether the use for the good can be postponed.
Human and economic constraints.

Related Discussions:- Factors determining elasticity of demand

Approaches to measuring national income, APPROACHES TO MEASURING NATIONAL I...

APPROACHES TO MEASURING NATIONAL INCOME The compilation of national income statistics is a very laborious task. The total wealth of a nation has to be added up and there are

Individual firm and market supply curves, Individual firm and market supply...

Individual firm and market supply curves The quantities and prices in the supply schedule can be plotted on a graph. Such a graph is called the firm supply curve. A fir

Stagflation, STAGFLATION The term stagflation is a recent arrival in ec...

STAGFLATION The term stagflation is a recent arrival in economic literature derived from joining together the stage of stagnation and flections of inflation. The term has been

Structure, structure of managerial economics

structure of managerial economics

Show the changes in fixed costs and profit maximisation, Q. Show the Change...

Q. Show the Changes in fixed costs and profit maximisation? A firm maximises profit by operating where marginal revenue equals marginal costs. A change in fixed costs hasn't an

Reasons for fluctuations in agricultural prices, REASONS FOR FLUCTUATIONS I...

REASONS FOR FLUCTUATIONS IN AGRICULTURAL PRICES Production depends on factors beyond the control of the producers e.g. weather, disease and pests. Actual and planned output i

Demand, explain the law of demand

explain the law of demand

Sales maximization, is the sales maximization applicable

is the sales maximization applicable

Gm04, “Managerial economics involves use of economic analysis to make busin...

“Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm’s scarce resources” Explain the statement with suitable example.

what is the elasticity of labor demand , Asuume there are two inputs in th...

Asuume there are two inputs in the production function, labor & capital, and these two inputs are perfect substitutes. The existing technology permits one machine to do the work of

Write Your Message!

Name

Email id

Message

Verfication Code

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

User Account

All Pages