Business Economics, Business Economics

Assignment Help:
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity.
(i) Consumer preferences, that is, whether consumers regard the commodity as a ‘luxury'' or a ‘necessity''.
(ii) The narrowness of definition of the commodity.
(iii) The length of the period under consideration
(iv) The availability of substitutes for the commodity

Related Discussions:- Business Economics

Firm, how managerial economics is applied in a firm?

how managerial economics is applied in a firm?

Present value or worth of this bond, Suppose a $1,000 face value bond has a...

Suppose a $1,000 face value bond has a coupon rate of 8.5 percent, pays interest semi-yearly, and has an eight-year life. If investors are willing to take a 10.25 percent rate of r

Type of project management require to deliver to volunteer, What kind of pr...

What kind of project management would you require to deliver to have people volunteer to work on your projects? The leadership challenge is to suppose that everyone working ont

How is harrod-domar model used in planning, How is Harrod-Domar model used ...

How is Harrod-Domar model used in planning? The Harrod-Domar model is helpful to government for setting target rates for saving required to deliver a specified rate of economi

Payback method to analyse business , The managing director of Christine plc...

The managing director of Christine plc, a company which specialises in acquiring small businesses, has considered the following potential investments. Only one of these investments

Net exports, Net exports normally decrease with the effect when aggregate o...

Net exports normally decrease with the effect when aggregate output decline. When a concretionary fiscal policy is implemented net exports will go up . When government maintain the

Benefits for transferring drivers to transit, Distribution of benefits for ...

Distribution of benefits for transferring drivers to transit during a congested morning commute A residential suburb has N = 30,000 commuters who drive alone to jobs in a cen

Define ACWP- BCWP and BCWS in economics, Define given terms: Actual Cost of...

Define given terms: Actual Cost of Work Performed (ACWP); Budgeted Cost of Work Performed (BCWP); Budgeted Cost of Work Scheduled (BCWS). • ACWP is the amount of attempt (exp

Write Your Message!

Captcha
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