Explain the factors influencing the value of ped and yed, Microeconomics

Assignment Help:

Explain the factors influencing the value of PED and yED.

PED and YED should be explained and then dealt with in terms of determinants. PED is dependent on availability/closeness of substitutes, time frame included, proportion of income spent on good.

YED depends on whether the good may be considered normal or inferior.

 


Related Discussions:- Explain the factors influencing the value of ped and yed

Reasons for state trading, There are different reasons for state trading. I...

There are different reasons for state trading. Important reasons are given below. (i) State may directly buy the goods required by the various government departments and agencie

Cost, explain the traditional theory of cost with suitable diagrams.explain...

explain the traditional theory of cost with suitable diagrams.explain why LAC curve is not U shaped?

Negative profit, Negative profit  FC + VC > R(q) MR > MC ...

Negative profit  FC + VC > R(q) MR > MC    Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp

Shutdown point, do you agree that according to econmy theory a business wil...

do you agree that according to econmy theory a business will always close if its total reveneu cover total costs

INDIFFERENCE CURVES, HOW TO REDUCE SMOKING USING INDIFFERENCE S AND BUDGETL...

HOW TO REDUCE SMOKING USING INDIFFERENCE S AND BUDGETLINE

Q=8L^1/2, what is the profit maximising quantity of L

what is the profit maximising quantity of L

Marginal Revenue, (i) When the demand function is 2Q - 24 + 3P = 0, find th...

(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of

Economics question im stuck with, The prevention of major swings in economi...

The prevention of major swings in economic activity can be handled most easily by the: A. Household sector B. business sector C. financial sector D. government sector why?

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