--%>

Idea of low price elasticity of demand

Purposes for the very low price elasticity of demand for salt do not comprise the fact such that this: (w) has few good substitutes. (x) is currently relatively low priced. (y) absorbs only small percentages of most household budgets. (z) is sodium chloride, a combination of two relatively common elements.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Microeconomics

  • Q : Standard categories of economic

    Standard categories of economic discrimination which tend to make income less equally distributed do not comprise: (1) wage discrimination (2) employment discrimination (3) occupational discrimination (4) human capital discrimination (5) income discri

  • Q : Individual demand and market demand

    Individual demand and market demand schedules: Individual demand schedule states the quantities required by an individual consumer at various prices.

    Q : Imposition of rent controls under

    The imposition of rent controls below equilibrium rental rates tends to create: (i) a housing surplus. (ii) booms of new apartment construction. (iii) declines in the quantity and upkeep of rental units. (iv) rising incomes for landlords. (v) enhanced

  • Q : Occurrence of lower bond prices Lower

    Lower bond prices arise simultaneously while there are increases into: (1) optimism among investors in economic capital. (2) government budget surpluses. (3) the rates of saving by households. (4) the liquidity of all financial assets. (5) interest ra

  • Q : Cross-elasticity coefficient When the

    When the number of textbooks sold falls/drops 10 percent whenever college tuitions double, textbooks and college enrollments are _____ goods and their cross-elasticity coefficient is mainly _____. (i) Superior; 5.0. (ii) Inferior;   10.0. (i

  • Q : Average cost per unit of production

    When Prohibition Corporation maximizes profit within its production of St. Valentine’s Day software, there average cost per unit of it produced will be roughly: (i) $4 per copy. (ii) $10 per copy. (iii) $18 per copy. (iv) $24 per copy. (v) $32 per copy.

  • Q : Determine water elasticity of production

    When 200,000 gallons of water are applied per acre, 4 tons are harvested by each acre of linguini trees yearly, but cutting back to 160,000 gallons causes the crop per acre to reduce to 2 tons yearly. Then water elasticity of linguini production is as

  • Q : Productivity related problem Other

    Other things equal, an improvement in productivity will: A) shift the aggregate demand curve to the left. B) shift the aggregate supply curve to the left. C) shift the aggregate supply curve to the right. D) increase the price level.

  • Q : Setting price and produces an output

    Assume that Babble-On’s patents for speech-translation software covering 314 languages lapsed, as well as entry of new competitors within this market eroded the demand for Babble-On software, but the firm retains several market powers since competitors’ pr

  • Q : Current consumption over future

    When households’ start increasingly to prefer current consumption over future consumption, in that case the: (w) interest rate rises. (x) interest rate falls. (y) present value of future income rises. (z) equilibrium rate of investment within hu