The demand for gadgets is likely to be more price-elastic, Microeconomics

+44 141 628 6080
[email protected]

The demand for gadgets is likely to be more price-elastic

The demand for gadgets is likely to be more price-elastic when:

a. there are no substitutes for gadgets available in the marketplace.

b. consumers are given a long period of time to adjust to a change in the price of gadgets.

c. the price of a gadget is a very large percentage of the typical consumer’s budget.

d. gadgets are considered a luxury by consumers.

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: The demand for gadgets is likely to be more price-elastic

Reference No:- TGS0949318

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Problem about measuring the rate of follow up phone calls

You are a manager in a medical ward. You have been advised that only 50% of patients are receiving follow-up phone calls after discharge.

What case manager will do to assist the client

With staff assistance, Stephanie will increase her ability to complete basic adult functioning task as evidence by learning and mastering 4 ADLs

Which action should the charge nurse implement first

While making rounds, the charge nurse notices the client's chart has been left on the bedside table. Which action should the charge nurse implement first?

Nurse is making assignments on the postpartum unit

The charge nurse is making assignments on the postpartum unit. Which client should be assigned to the licensed practical nurse (LPN)?

Gestational client has just delivered a stillborn infant

Question: The 36-week gestational client has just delivered a stillborn infant. Which intervention should the nurse implement?

Postpartum client change her peri-pad three times

The female unlicensed assistive personnel (UAP) informs the nurse she has helped the 1-day postpartum client change her peri-pad three times

Which interventions should the nurse implement

The client has delivered a 37-week gestation infant whose cord was wrapped around the neck. The infant died in utero. Which interventions should the nurse imple

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: The demand for gadgets is likely to be more price-elastic

Reference No:- TGS0949318

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Public goods tend not to be sold in the marketplace

Q : Concluding that because free trade is beneficial for the

Q : Suppose there are external costs associated with the

Q : A competitive profit-maximizing firm will choose to hire

Q : The demand for gadgets is likely to be more price-elastic

Q : Game theory suggests that competing firms in an

Q : To be successful in increasing the price of their product

Q : Robert g flanders jr the state-appointed receiver for

Q : An eminent labor economist found that the return to the