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

Balance of payments - reason for protection, Balance of Payments Perha...

Balance of Payments Perhaps the most immediate reason for bringing in protection is a balance of payment deficit. If a country had a persistent deficit in its balance of paym

Using factor incomes for calculating national income, Using Factor Incomes ...

Using Factor Incomes for Calculating National Income A second method is to sum up all the incomes to individuals in the form of wages, rents, interests and profits t

State the market demand curve, The Market Demand Curve Quantity of a co...

The Market Demand Curve Quantity of a commodity that an individual is willing to buy at a particular price of the commodity during a specific time period, given his money incom

What are significant tools of perfect competition, What are the significant...

What are the significant tools of the perfect competition and the supply curve? Perfect Competition and the Supply Curve: a. In Perfect competition the characteristics of a

What is the equilibrium in the labor market, What is the equilibrium in the...

What is the equilibrium in the labor market? Explain briefly. Equilibrium in the Labor Market a. The market labor of demand curve is the horizontal total of the individual l

State about demand theory, What is Demand theory Demand theory demonstr...

What is Demand theory Demand theory demonstrates the relationship between demand for services andgoods. Demand theory is the building block of demand curve- a curve which estab

Cost of unemployment, Cost of Unemployment Unemployment is a problem b...

Cost of Unemployment Unemployment is a problem because it imposes costs on society and the individual. The cost of unemployment to a nation can be categorized under three hea

Illustrate the sources of monopoly, Q. Illustrate the sources of monopoly? ...

Q. Illustrate the sources of monopoly? Merger for Large-scale Production: Thirdly monopoly undertaking can be a consequence of the necessity to produce on a large scale to de

Elasticity of demand, When given two demand functions to calculate elastici...

When given two demand functions to calculate elasticity of demand do you use point elasticity or arc elasticity of demand formula

Production function, finding marginal product

finding marginal product

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages