Commodities of inelastic demand
Which of the given commodities contain inelastic demand? A) Salt B) A particular brand of lipstick C) Medicines D) Mobile phone E) School uniform
Expert
Salt, medicines and school uniform encompass inelastic demand. The cause being that a consumer has to purchase such commodities even via price of such commodities changes.
Even a substantial modification in price leaves the demand unaffected.
Long run for the production theory is a time period across which: (i) All production occurs. (ii) Firms can adjust all their costs and resources. (iii) Bigger firms absorb the smaller firms. (iv) Marginal costs become decreasingly significant. (iv) Im
Can someone help me in finding out the right answer from the given options? The lack of competition in the product market outcomes in: (p) Less labor being appointed than if the markets were competitive. (q) More labor being hired than if the markets were competitive.
When you can buy a bond today for $1,000 and this will mature at $1,210 two years from currently, the rate of return on this financial investment is: (1) 10%. (2) 10.5%. (3) 11%. (4) 12%. (5) 21%. Q : When is not total annual revenue As per this demonstrated figure in below, unless something changes the total annual revenue of Robot Butlers, Inc. Can’t exceed: (1) $10,000. (2) $20,000. (3) $100 million. (4) $200 million. (5) $400 million.
As per this demonstrated figure in below, unless something changes the total annual revenue of Robot Butlers, Inc. Can’t exceed: (1) $10,000. (2) $20,000. (3) $100 million. (4) $200 million. (5) $400 million.
Hey friends I need your help for illustrated figure in below where for cranberries, the market demand curve is: (i) A. (ii) B. (iii) F. (iv) J. (v) E. Q : Technology and resource costs I have a I have a problem in economics on Technology and resource costs. Please help me in the following question. The short-run supply of macadamia nuts is considerably recognized by: (1) Preferences and tastes. (2) Technology and resource costs. (3) The number of consumers.
I have a problem in economics on Technology and resource costs. Please help me in the following question. The short-run supply of macadamia nuts is considerably recognized by: (1) Preferences and tastes. (2) Technology and resource costs. (3) The number of consumers.
When a monopolist’s marginal costs of production are positive and the demand curve, this faces is a negatively sloped straight line, as of the subsequent possibilities the absolute value of the price elasticity of demand at a pr
This exercise inspects the higher prices charged in UK for music downloads as compared to the rest of Europe.
The price elasticity of supply as in below demonstrated figure is unitary within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Q : Supply law and it's factors State the State the Law of supply and explain the factors that affecting supply of commodity
State the Law of supply and explain the factors that affecting supply of commodity
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