User Account

All Pages

Explain the potential price elasticity of demand

Assignment Help Microeconomics
Reference no: EM131152894

Price Elasticity of Demand

The price elasticity of demand shows the impact of price change on the product quantity demanded by the consumers. It is also product specific. In other words, the prices of some products are relatively inelastic to demand while those of others could be quite elastic to demand.

Identify a product and explain the potential price elasticity of demand for this product. Justify your position with adequate details based on the research and analysis.

The minimum expectation for the discussion is for the student to post an original response in the first week and respond to, expand upon, or challenge the post of another student (or the professor) in the second week. You should monitor the discussions so that you can respond to any challenges or questions you receive on the discussion board with additional detail or support.

Reference no: EM131152894

Questions Cloud

Are these concepts tools and methodologies universal : Are these concepts, tools and methodologies universal? That is, do they apply to any institutions? For example, do they apply to the military? Or to City Hall? If not, should they
Determine the equivalent state of stress on an element : Determine the equivalent state of stress on an element at the point which represents (a) the principal stresses and (b) the maximum in-plane shear stress and the associated average normal stress. Also, for each case, determine the corresponding or..
What fictional or famous person will you use for your paper : Identify and define the theory you will use. Include the source for your definition of the theory. If you use a direct quote, put it in quotation marks. Add one sentence, in your own words, defining the theory. Provide the source you used to hel..
Determine the equivalent state of stress on an element : Determine the equivalent state of stress on an element at the same point oriented 60° clockwise with respect to the element shown. Sketch the results on the element.
Explain the potential price elasticity of demand : Identify a product and explain the potential price elasticity of demand for this product. Justify your position with adequate details based on the research and analysis
What the supply chain management is about : Choose a topic that interests you from one of the ten to be covered from week 3 to week 12 (see the course schedule in the Course Profile).
Why does this come about at this stage of development : Describe the four possible resolutions to multiracial identity development described by Root (1990, 1998). Explain the various factors that influence one's identity as a member of an oppressed minority group.
How well did your experiment test the hypothesis : Did the student outline their goal clearly, and provide adequate background knowledge related to their study? Specifically, can the reader understand the rationale for why this study should be conducted, and does the reader now have the requisite ..
Picking a small group : How many ways might there be in picking a small group of 6 people from a large group of 20 people?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd