What type of elasticity

Assignment Help Business Economics
Reference no: EM13802522

The price elasticity of demand is -1.2. What type of elasticity is this?

elastic

inelastic

perfectly elastic

unit elastic

Reference no: EM13802522

Questions Cloud

Agricultural products-find competitive market price-output : Potato farming (like farming of most agricultural products) is highly competitive. Price is determined by demand and supply. Based on U.S. Department of Agriculture statistics, U.S. demand for potatoes is estimated to be QD = 184 - 20P, where P is th..
The US nominal exchange rate declines : EXPLAIN IF POSSIBLE. What is happening to the US real exchange rate in each of the following situations? Explain. The US nominal exchange rate declines, and prices rise less in the US than abroad.
What is happening to the US trade balance : EXPLAIN IF POSSIBLE. What is happening to the US trade balance in each of the following situations? Explain.
Theories of unemployment to explain the type of unemployment : Here are four individuals telling you their stories of how they became unemployed. In a multi-paragraph essay, apply the theories of unemployment to explain the type of unemployment that each of these individuals is facing and explains which of these..
What type of elasticity : The price elasticity of demand is -1.2. What type of elasticity is this?
Calculate the price elasticity : Average visits per week equal 640 when the copy is $40 and equal 360 when the copayment is $60. Calculate the price elasticity using 360 and $60 as the denominators for percentage change calculations.
Physical therapy-what would happen to volume and revenue : A physical therapy clinic faces a demand equation of Q = 200 - 1.5 * P, where Q is sessions per month and P is the price per session. The clinic currently charges $80. If the clinic lowered its price to $70, what would happen to volume and revenue?
What would the equivalent equal annual payment : Assume that you borrow $15,000 for five years (annual payments) at a market rate of 5%. Assuming that inflation is 3.5%, what would the equivalent equal annual payment be in constant dollars?
What is the average annual inflation rate on used equipment : Currently you can purchase a used 10 year old CAT 24D for $85,000. Ten years from now, you think that a comparable used machine will sell for $105,000. What is the average annual inflation rate on used equipment that you are expecting during this 10 ..

Reviews

Write a Review

Business Economics Questions & Answers

  Wn internal auditors at this point also the dual system

Elucidate however, are not sure of their own internal auditors at this point also the dual system in place.

  Formulate the issue of negotiation game

Due to the recent events, Greece is to pay a debt to Troika. The issue is, that Greek Finance Misiter is trying to re-negotiate the terms of debt payment, with the help of his knowledge in the "Game theory".

  Original owners must sell their used cars

Original owners must sell their used cars. Original owners know what their cars are worth, but buyers can't determine a cars quality until they buy it.

  Implications of level of both consumer and government debt

What do you think are the implications of the level of both consumer and government debt? What are the implications of foreign ownership of US government debt?

  Short-run market supply curve

Illustrate what is the short-run market supply curve. Find out the short-run equilibrium cost and quantity in this industry.

  Ilustrate what is the market price and level of each firm

Ilustrate what is the market price and level of each firm's output in the short run. How much profit does each firm make.

  What is the mean weight of a can of soup

What is the probability that a can of soup will have between 9.4 and 10.3 ounces? What is the mean weight of a can of soup? d. What is the standard deviation of the weight?

  What you suggest alternative ways to ensure import supplies

Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation. What could you suggest alternative ways to ensure import supplies.

  What is the cost of producing an additional washing machine

What is the cost of producing an additional washing machine when 50 cars are being produced? When 150 cars are being produced?

  Expected value of a bond if the annual interest payment

What would be the expected value of a bond if the annual interest payment is $80.00, the bond matures in 4 years, the principal is $1,000, and the yield to maturity is 9%?

  Discuss the meaning of e-commerce from a business

Discuss the meaning of e-Commerce from a business and technical perspective and appreciate the business environments conducive to the use of successful e-Commerce applications

  Draw their budget set in housing-other goods space

Draw their budget set (the combination of housing and other goods that they can afford) in housing-other goods space

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!

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