Firm price elasticity of demand relatively elastic-inelastic


Choose a good or service (input) used by your firm or by you when performing your job.

Question 1: Select two factors (for example revenue, technology, or the relative price of a substitute input) and discuss how a change in each would alter the use of the input.

Question 2: For this input is your firm's price elasticity of demand relatively elastic or inelastic?

Question 3: What will the MARKET demand for this input be in five years and briefly why?

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Microeconomics: Firm price elasticity of demand relatively elastic-inelastic
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