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

What is the expected profit, The Barcelona Football Club is considering the...

The Barcelona Football Club is considering the signing of a player of international fame. The problem is that the player has a reputation for having a weak knee. The probability th

Problems in using arc elasticity, The use of arc elasticity in economic ana...

The use of arc elasticity in economic analysis involves a good deal of chariness since it is capable of being misinterpreted. Arc elasticity coefficients vary between the same two

Quadratic cost function, Using the CD data estimate a quadratic cost functi...

Using the CD data estimate a quadratic cost function. Test the hypothesis that there is diminishing marginal cost. Be sure to state what critical value you are using. Then, using t

Many dollars of change in consumption, Given a saving function of S = -25 +...

Given a saving function of S = -25 + .2Yd, a $10 billion enhance in government spending will bring about how many dollars of change in consumption?

Qt, applicatiopn of qt in managerial decision making

applicatiopn of qt in managerial decision making

Public sector borrowing requirement (psbr), PUBLIC SECTOR BORROWING REQUIRE...

PUBLIC SECTOR BORROWING REQUIREMENT (PSBR) Public Sector Borrowing Requirement (PSBR) is the amount which the government needs to borrow in any one year to finance an excess e

Excise tax and its impact on manufacturing industry, excise tax and its imp...

excise tax and its impact on manufacturing industry with respect to demand and supply curves

Betsy''s utility function , Suppose that Betsy's utility function is given ...

Suppose that Betsy's utility function is given by the equation U=Y0.3 where Y is calculated in thousands of dollars. Betsy's present job pays her $20,000 (Y=20) per year and she ca

Supply-side policies for unemployment, Supply-side policies Supply-sid...

Supply-side policies Supply-side policies are intended to increase the economy's potential rate of output by increasing the supply of factor inputs, such as labour inputs and

Explain managerial economics according to mote and paul, Explain Managerial...

Explain Managerial economics according to Mote and Paul Haynes, Mote and Paul: "Managerial economics refers to those characteristics of economics and its tools of analysis mos

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages