Explain the term relatively inelastic demand
Explain the term relatively inelastic demand.
Expert
Relatively inelastic demand:
Now there quantity demanded changes less than proportionate to variation in price. A huge change in price leads to small change within demand. In SUCH case demand curve will be steeper as well as ep<1.
Illustrates the reasons for charging skimming price strategy?
States the term fixed cost in briefly.
what are the criteria for good forecasting
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
The market supply of labor is the sum of the: (1) quantities of labor supplied by households at each wage. (2) wages paid to households for each quantity supplied. (3) quantities demanded by firms at each wage. (4) marginal products of labor at each l
Illustrates the fixed and variable inputs in economics?
answer written below is correct for the question detail exception of demand curve ?
States the Wealth Definition in economics?
Illustrates the major objectives of demand analysis?
Derived demand curves for labor slope downwards since: (w) additional workers are usually less skilled and thus deserve lower wages. (x) when another resource is fixed, hiring more workers ultimately reduces output per hour worked. (y) higher wages us
18,76,764
1960267 Asked
3,689
Active Tutors
1422245
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!