Explain the Expenditure Method of Measurement of Elasticity
Explain the Expenditure Method of Measurement of Elasticity.
Expert
Expenditure or Outlay Method: Expenditure method was developed through Marshall. In this method, the elasticity is measured through estimating the changes in whole expenditure like a result of changes in price and quantity demanded. It has three components.
When the price changes but whole expenditure remains constant then unit elasticity exists.
When the price changes but whole expenditure moves in the opposite directions then demand elastic is (>1).
When the price changes and whole revenues moves in similar direction, demand is inelastic (<1).
It can be expressed by the given diagram.
On-job training, there a college education, as well as leadership skills is all illustrations of: (w) financial capital. (x) human capital. (y) investment. (z) economic capital. Hey friends please give your opinion for the problem
Explain the follow-up pricing.
What are the various fields of Economics? Explain.
Insistence by a potential employer which job applicants submit a résumé is an illustration of: (1) networking. (2) screening. (3) signaling. (4) bragging. (5) qualifying. Please choose the right answer from above...I
What are the objectives and importance (Uses) of managerial Economics?
What are the different types of determinants of advertisement elasticity?
Critics of the wide use of screening and signaling within hiring practices argue which: (w) formal training is never very important in preparing workers with necessary skills. (x) worker credentials tend to be negatively related to productivity. (y) l
Illustrates the term monetary policy?
As the labor market within a purely competitive economy is into equilibrium: (1) the marginal benefits by unemployment exceed unemployment compensation. (2) the marginal benefits and marginal costs from employment are equal. (3) econo
Explain about the control of business cycle.
18,76,764
1960173 Asked
3,689
Active Tutors
1458276
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!