Explain the point and arc elasticity of demand, Managerial Economics

Assignment Help:

Point and arc elasticity of demand

The elasticity of demand is conventionally measured either at a finite point or between any two finite points, on demand curve. The elasticity measured on a finite point of a demand curve is known as point elasticity and elasticity measured between any two finite points is known as arc elasticity. Let's now look into the methods of measuring point and arc elasticity and their relative usefulness.

Related Discussions:- Explain the point and arc elasticity of demand

Opportunity cost, Opportunity Cost This is the amount that is sacrifice...

Opportunity Cost This is the amount that is sacrificed when choosing one activity over the next-best alternative. In organization, an example of opportunity cost is seen in th

Cross elasticity, Cross Elasticity Cross elasticity of demand measures...

Cross Elasticity Cross elasticity of demand measures the degree of responsiveness of the quantity demanded of one good (B) to changes in the price of another good (A). It is

Capital markets, CAPITAL MARKETS Markets in which financial resources ...

CAPITAL MARKETS Markets in which financial resources (money, bonds, stocks) are traded i.e. the provision of longer term finance - anything from bank loans to investment in pe

Smplex method, examples

examples

Economic theory, How does economic theory contribute to managerial decision...

How does economic theory contribute to managerial decisions

Short run output and price, SHORT RUN OUTPUT AND PRICE In monopolistic...

SHORT RUN OUTPUT AND PRICE In monopolistic competition, it's the product differentiation that permits its price without losing sales. Due to brand loyalty consumers will c

Explain the tastes of the buyer must not alter, Tastes of the buyer must no...

Tastes of the buyer must not alter Any alteration which takes place in the taste of consumers will in all probability thwart the working of the law of demand. It frequently hap

Functions of central bank , FUNCTIONS OF CENTRAL BANK Economists and f...

FUNCTIONS OF CENTRAL BANK Economists and financial experts lack in unanimity about the functions of a central bank. According to Kisch and Elkin, the essential function of a c

Applications of managerial theories and concepts in decision, Discuss the a...

Discuss the applications of Managerial economics concepts or theories in managerial decision making question..

Limitations of uneven distribution of income and wealth, Limitations of Une...

Limitations of Uneven Distribution of Income and Wealth Unlike the historical experience of the now developed countries, the rich in contemporary Third World Countries are not

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages