Elasticity, Microeconomics

Assignment Help:
not that long ago we experienced the excitement of thinking we would have cheaper online books and free music. these visions that we had of a free market utopia that blinded us to the fact there were immutable facts about economics and one of the standards is price elasticity, unfortunately some dwell on the potential still. Those early days of e-books held the much promise for such a short time. E-goods are returning to the price levels which we thought they had left behind, again the inevitable price elasticity. The question I have is this...why is it so certain that price elasticity will cause those prices to return to levels they were at instead of staying lower based on the new technology?

Related Discussions:- Elasticity

Advantages of division of labour, Advantages of Division of labour: Di...

Advantages of Division of labour: Division of labour has advantages including the following: Development of Greater Skill by the Worker In division of labour, each

Direct utility, what is direct utility in micro economics?

what is direct utility in micro economics?

Understanding of micro/macro distinction and ppc, explain how microeconomic...

explain how microeconomic and macroeconomic issues may be represented using the production possibility curve

Calculate the concentration of standard solution, 1. A standard solution of...

1. A standard solution of potassium hydroxide (KOH) was prepared by dissolving 15g of KOH in 250.0mL of distilled water. (a) Calculate the concentration of this standard solution.

Production, what is fixed and variable inputs with more explanation

what is fixed and variable inputs with more explanation

Define law of supply, Define law of supply.  Quantity supplied rises as...

Define law of supply.  Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s

Demand for the big mac on the rise, Illustrate and explain the changing dem...

Illustrate and explain the changing demand for big mac using the indifference curve and budget line.

Homework, There are six potential customers of computer games, each willing...

There are six potential customers of computer games, each willing to buy only one game Consumer 1 is willing to pay $40, Consumer 2 is willing to pay $35, consumer 3 is willing to

Law of demand, "price is becoming cheaper,yet the demand for car is not ris...

"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?

Statistics, define statistics in plural and singular sense

define statistics in plural and singular sense

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