Which determinant of demand is driving elastic behavior

Assignment Help Microeconomics
Reference no: EM133231875

Assignment:

Give 3 examples of goods that you purchase for which your own demand is elastic, explain why - which determinant of demand is driving your elastic behavior?

Give 3 examples of goods that you purchase for which your own demand is inelastic, explain why - which determinant of demand is driving your inelastic behavior?

Reference no: EM133231875

Questions Cloud

What models or paradigms of federalism apply : Discuss AND evaluate the system of federalism in the U.S. today. What are the main conceptions of federalism in the post-World War II era?
Poverty is result of personal decision-making-character : We tend to fall into the commonly held view that poverty is the result of personal decision-making and character.
Discuss the distribution constitutional power : POLSC 01 Long Beach City College, Discuss the distribution constitutional power between the federal and state governments. How has this distribution changed
Describe the person facial expressions : Describe the person's facial expressions. Do they match up with any of the descriptions of the emotions of facial communications shown in your lesson
Which determinant of demand is driving elastic behavior : Give 3 examples of goods that you purchase for which your own demand is elastic, explain why - which determinant of demand is driving your elastic behavior?
Long-term financial conditions and planning : How you can take the information provided in this course and apply it in your life to improve your short- and long-term financial conditions and planning
What activity does the polyene anti-microbials affect : what activity does the Polyene anti-microbials affect the plasma film of the organism and What percent dampness ought to corn silage be cleaved
Explain what can be done to address civil wars : Identify and explain the impact that civil war can have and Explain what can be done to address civil wars
Explain some of the approaches and best practices : Please explain some of the approaches and best practices a mental health provider should use while conducting a psychiatric interview with a toddler

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!

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