Price elasticity of demand
Elucidate any four factors which affect the price elasticity of demand.
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A) Nature of Commodity: Requirements such as Salt, Kerosene oil and so on have inelastic demand and luxuries elastic demand.
B) Availability of substitutes: The Demand for goods which contain close substitudes is relatively much elastic and goods devoid of close substitutes having less elastic demand.
C) Different uses: Commodities which can be put to various uses contain elastic demand for instance electricity has different utilizations.
D) Habit of the consumer: The Goods to which consumers become habitual will contain inelastic demand. Illustration:? Liquor and Cigarette.
The summation of monopolistic exploitation across all the workers tends to raise however a firm as well operates at a more socially and economically proficient level of output and employment whenever the firm is capable to engage in: (m) Blacklisting in its dealings t
In the demonstrated figure, total revenue is greatest for cheesy fried grits of Pixie at a price of as: (w) P1. (x) P2. (y) P3. (z) P4. Q : Least likely monopsony power Which of Which of the given below employers is LEAST likely to encompass monopsony power? (1) The secretarial service firm in the Los Angeles. (2) The police force in Eau Claire, Wisconsin. (3) U.S. Department of Defense. (4) Wal-Mart in the Snowflake, Arizona. (5) Community h
Which of the given below employers is LEAST likely to encompass monopsony power? (1) The secretarial service firm in the Los Angeles. (2) The police force in Eau Claire, Wisconsin. (3) U.S. Department of Defense. (4) Wal-Mart in the Snowflake, Arizona. (5) Community h
When numerous new firms enter a monopolistically-competitive market, in that case the demand curves facing the firms previously in that market will: (1) shift to the left and turn into more price elastic. (2) become straighter and less income elastic.
Marginal revenue is: (w) similar as price for a purely competitive firm. (x) defined as the change in total revenue while an additional good is sold. (y) always equated to MC when a firm wants to maximize profits. (z) all of the above. Q : External costs and external benefits Question: (a) Explain the impact of external costs and external benefits on resource allocation; (b)  
Question: (a) Explain the impact of external costs and external benefits on resource allocation; (b)  
Line T2 depicts as in below graph a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive. Q : Demand curve facing monopolistically The demand curve that facing a monopolistically competitive firm is: (1) perfectly elastic within the short run. (2) perfectly inelastic due to numerous substitutes for its product. (3) less elastic than the demand curve facing a comp
The demand curve that facing a monopolistically competitive firm is: (1) perfectly elastic within the short run. (2) perfectly inelastic due to numerous substitutes for its product. (3) less elastic than the demand curve facing a comp
Can someone help me in finding out the right answer from the given options. The law of diminishing marginal utility might be evidenced by the person: (i) Smoking more however enjoying each and every extra cigarette less. (ii) Buying a latest car after
Question: (1) Suppose the jeans industry is an oligopoly in which each firm sells its own distinctive brand of jeans, and each firm believes its rivals will not follow its price increases but will
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