price elasticity of demand, Business Economics

Assignment Help:
Aska) Explain why each of the following factors may influence the own price elasticity of demand for a commodity.

(i) Consumer preferences, that is, whether consumers regard the commodity as a ‘luxury'''' or a ‘necessity''''.
(ii) The narrowness of definition of the commodity.
(iii) The length of the period under consideration
(iv) The availability of substitutes for the commodity question #Minimum 100 words accepted#

Related Discussions:- price elasticity of demand

The tipical structure of a company, At which of the stages in the tipical s...

At which of the stages in the tipical structure of a company is a business given an identity separate from its owners?

Equity, The Concept of Equity is explained below: Equity represents tha...

The Concept of Equity is explained below: Equity represents that the principle of taxation which emphasizes fairness or just the sacrifice, which is everyone must pay the tax d

Why is not aid improving development, Why is not Aid improving development?...

Why is not Aid improving development? Aid not improves development because: • Aid is spent on current consumption • It is spent on unsuitable capital as opposed to suitab

Pricing of product, assignment given to me about the methods of pricing of ...

assignment given to me about the methods of pricing of a product with five examples

Regulation and deregulation, how does the buying and selling of stock fit t...

how does the buying and selling of stock fit the model for perfect competition?

Find the payback period irr-npv, Your company's cost of capital is 12%. You...

Your company's cost of capital is 12%. You are currently evaluating three projects that have the following cash flow streams: Project 0 1

State intervention approaches for promoting development, Explain the state ...

Explain the state intervention approaches for promoting development. State intervention can result within: • Large bureaucracies staffed through friends and relatives of the

What is social inclusion, What is social inclusion? Social Inclusion:...

What is social inclusion? Social Inclusion: Social inclusion implies the whole of society enjoys the advantages of economic activity (as income) and have complete access

Ledger, #question."ledger is said to be the principle book of entry and the...

#question."ledger is said to be the principle book of entry and the transaction can be even be directly entered into the ledger account."Elaborate on the statement

Write Your Message!

Captcha
Free Assignment Quote

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd