Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Perfectly Inelastic (Zero Elastic) Supply
Supply is said to be perfectly inelastic if the quantity supplied is constant at all prices. The supply curve is a vertical straight line and the elasticity of supply is equal to zero.
When price rises from P1 to P2, quantity supplied stays fixed at q, and when price falls from P2 to P1, quantity supplied stays fixed.
In the case of a price rise, this is the situation of the very short-run or the momentary period which is so short that the quantity supplied cannot be increased, e.g. food brought to the market in the morning. It is also the case where the commodity is fixed in supply e.g. land. In the case of a price fall, this is the case of a highly perishable commodity which cannot be stored, e.g. fresh fish.
explain the role of managerial economist
Planned Economy Is a system where all major economic decisions are made by a government ministry or planning organisation. Here all questions about the allocation of resources
iwant presentation on united postal services on social cost and benefits
It is presumed that every of the different combinations of capital and labour displayed in Table produces the same level of output, which is, 20 units. Combinations are such that i
Question: (a) The regression results for the quantity demanded of good X is given by ln Q X = 1220 - 9.5 ln P X - 2.21 ln P Y + 1.01 ln M t values (5.3) (-5.1
what is the theory of firm?
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
One lumber producer may locate a plant in the same area. If it does, there will be more competition for labor and the labor supply function facing Northern will shift to
You are the new owner of Vanda-Laye Corporation. You are interested in your company''s cost and revenue relationships as well as its future pricing strategies. Tasks: Analyze how
Model Specification We proceed with the model specification in the following steps. 1) The economy is composed of competitive firms (F in number) and identical workers
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd