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.
Within a monopolistically competitive industry along with no barriers to entry, long run equilibrium will be reached along with the firms into the industry: (1) maximizing total revenue. (2) producing their most efficient outputs. (3)
In below this demonstrated figure, there demand curve: (w) D0D0 is perfectly price-inelastic. (x) DD is perfectly price-elastic. (y) DD has a price elasticity coefficient of unity (1). (z) D0D0 has a price e
The financial investment probably to generate a negative rate of return is the: (w) cost of your college education. (x) purchase of a lottery ticket. (y) $25,000 each a group of business people paid to buy franchises within the American Football League into 1960 year.
pizza and sausage substitute or compliment wheat and rye substitute or compliment
Can someone please help me in finding out the accurate answer from the following question. If a firm's wage structure reflects the keenness of individual employees to work, terms which are most applicable comprise: (i) Monopsonistic exploitation and the wage discrimin
When you paid a friend’s entrance fee for the poker tournament and agreed to divide any winnings and then your friend played sloppily as your money is at risk, not his, and then you have suffered since of: (1) Adverse selection. (2) Fraudulent information. (3) I
A firm’s total revenue can definitely be raised by decreasing its output when: (1) its supply curve is perfectly price inelastic. (2) the demand curve for its output is relatively income inelastic. (3) this is currently losing money each period.
Opinion of Frank Knight, about economic profits is: (1) rewards for bearing uncertainty. (2) easily capitalized for firms possessing monopoly power. (3) rewards for innovation. (4) easily predicted when competent economic forecasting is employed. (5) equal to accounti
The economy consists of an equal number of smokers (S-types) and asthma sufferers (A-types). Good 1 is cigarettes, good 2 is “other stuff.” S-types have the utility function: xS1 + xS
Dividing the annuity of the perpetuity by the interest rate gives in the perpetuity’s: (w) rate of return. (x) present value. (y) internal rate of discount. (z) capitalization rate. Can someo
18,76,764
1954072 Asked
3,689
Active Tutors
1426070
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!