What factors find out the price elasticity of demand, Macroeconomics

Assignment Help:

What factors find out the price elasticity of demand?

Factors which determine the price elasticity of demand are:

a. Whether close substitutes are accessible

b. Whether the Good Is a essential or a Luxury

c. Time and space


Related Discussions:- What factors find out the price elasticity of demand

Interest rate, assessment of interest rate in the economy of south africa, ...

assessment of interest rate in the economy of south africa, unemployment

Assignment, Ask question #MinDerive the isoprofit function ?imum 100 words...

Ask question #MinDerive the isoprofit function ?imum 100 words accepted#

Neo-classical synthesis, Neo-classical synthesis is a synthesis of classica...

Neo-classical synthesis is a synthesis of classical model and Keynesian model. In brief, it states that Keynesian model is correct in the short run whereas the classical analysis i

Is-lm model, what is Y = C(Y,T) + G + I(r)

what is Y = C(Y,T) + G + I(r)

Impulse response functions, The final and most important part of the method...

The final and most important part of the methodology is the impulse response functions which will provide the most information with regards to the aim of the project. In order to a

Ordinal theory - indifference curve approach, ORDINAL THEORY: INDIFFER...

ORDINAL THEORY: INDIFFERENCE CURVE APPROACH In indifference curve approach consumer is assumed to be rational, so that consumer's objective is to maximise her utility by choos

Calculate the value of a maximum flow, The following network N has sourc...

The following network N has source S and sink T with arc capacities as shown. (a) Use the maximum flow algorithm to find a maximum flow from S to T and draw a diagram

What are the equilibrium wage and employment levels, 1. Suppose that the su...

1. Suppose that the supply curve for school-teachers is LS = 20,000 + 350W, and the demand curve for schoolteachers is LD = 100,000 - 150W, where L = the number of teachers and W =

Mankiw, Using the Mundell-Fleming model, describe how an increase in a coun...

Using the Mundell-Fleming model, describe how an increase in a country’s risk premium on the world interest rate can result in a higher level of real income. Under what circumstanc

Why are the imports subtracted - nominal gdp, Why are the imports subtracte...

Why are the imports subtracted when GDP is measured in expenditure approach? If you woke up in the working & found that nominal GDP has doubled overnight. what statistic wou

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