--%>
Assignment Help - homework help

Substitution and elasticity of good

The price elasticity of demand is probable to be greater the: (1) more extensively the good is seems as a need. (2) better the obtainable alternatives for producers. (3) higher the opportunity costs of production. (4) larger the number of utilizes for the good. (5) more numerous are complements for the good.

I need a good answer on the topic of Economic problems. Please give me your suggestion for the same by using above options.

   Related Questions in Microeconomics

  • Q : Competitive Resource Market Supply

    Can someone please help me in finding out the accurate answer from the following question. As resources should be hired away from other utilizations, the resource supply curves facing a big and expanding competitive industry are usually: (1) U shaped. (2) Horizontal.

    		•
  • Q : Rational consumer-Relative Prices I

    I have a problem in economics on rational consumer-Relative Prices. Please help me in the following question. The rational consumer purchasing decisions depend mainly on: (1) Current market prices. (2) Absolute prices. (3) Nominal prices. (4) Monetary prices. (5) Rela

    		•
  • Q : Explanation of Substitution Effect The

    The substitution effect helps most in describing why: (1) Demand curves slope down. (2) Goods are either complements or substitutes. (3) Air travel costs less than by walking the cross country. (4) Uncertainty regarding quality justifies govt. control

    		•
  • Q : Coefficient of elasticity of relatively

    Please help me to solve the problem that is given below: A relatively price elastic demand curve would consist of a coefficient of elasticity of as: (w) ep = 1. (x) ep > 1. (y) ep < 1. (z) ep

    		•
  • Q : Labor markets gain maximization When,

    When, after hiring the very last worker, the organization’s profit is similar as it was before the last worker was hired, then the firm must: (p) Hire more workers to raise the profit. (q) Layoff some workers to raise the profit. (r) Not appoint any more workers

    		•
  • Q : Proportion of total costs I have a

    I have a problem in economics on Proportion of total costs. Please help me in the following question. Demand for the labor is more elastic as the: (1) Bigger labor costs is as proportion of net costs. (2) Shorter the time-interval considered. (3) Bigg

    		•
  • Q : Define Price discrimination Price

    Price discrimination: The Price discrimination is a situation whenever a monopolist charges distinct price from various buyers of the similar product. This is usually done to maximize profits.

    		•
  • Q : Implication of perfect knowledge

    Describe the implication of perfect knowledge regarding market beneath perfect competition.

    		•
  • Q : Market supply Schedules for a good The

    The market supply schedule for a resource or good shows the: (i) Points in time if production is scheduled for completion. (ii) Amounts sellers wish could be given at prices exceeding the costs. (iii) Maximum quantities which will be offered for sale at particular pri

    		•
  • Q : Common type of firm among in monopolist

    The most common kind of competition in between firms within monopolistic competition is: (i) price competition. (ii) product differentiation. (iii) collusion. (iv) predatory pricing. (v) cutthroat competition. Hell

    		•