How can we identify that something is elastic or inelastic, Microeconomics

Assignment Help:

How can we identify that something is elastic or inelastic?

When demand of any commodity does not change with the change in price of that commodity that item is said by inelastic. When demand of any commodity alters with the change in price of that commodity that item is said by elastic.

Related Discussions:- How can we identify that something is elastic or inelastic

Direct and indirect benefits, Direct and Indirect Benefits Life time e...

Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a

I am looking for help, ABC ANCA ABNC

ABC ANCA ABNC

Return on equity and sales tax, Return on Equity: It's a measure of busine...

Return on Equity: It's a measure of business profitability equal to net after-tax income divided by average level of shareholders' equity in the business. Sales Tax: A tax im

A3, Consider the model of corruption explored by Shleifer and Vishni’s wher...

Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq

Implications for the role of economic theory, Implications for the Role of ...

Implications for the Role of Economic Theory : Like the schedule for the marginal efficiency of capital, expectations about the future market rate of interest underlie the li

Utility maximization, u=2x^2+3y^2 hence income=310 birr and price=3 birr c...

u=2x^2+3y^2 hence income=310 birr and price=3 birr calculate quntity of x and y the optimize&minmize utilityfor the given income

Whata are the non-renewable resource, How does the approach of someone who ...

How does the approach of someone who has adopted the precautionary principle differ from someone with a blind faith in substitutability, when it comes to a non-renewable resource l

Williamson''s managerial discretion., how is price and output equilibrium d...

how is price and output equilibrium determined in Williamson''s model of managerial discretion?

#title.market structures, contrast the longrun equilibrium positions of mon...

contrast the longrun equilibrium positions of monopolistic competition firm and oligopoly

Econometrics, Due April 8 a) Produce some initial summary statistics of the...

Due April 8 a) Produce some initial summary statistics of the data. b) State the hypotheses that will be tested. Show me advanced results (analyses, not write-up/paper) Due April

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