Explain why each of the following factors may influence the, Microeconomics

Assignment Help:

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:- Explain why each of the following factors may influence the

Econ question, ref article :http://www.economist.com/news/finance-and-econo...

ref article :http://www.economist.com/news/finance-and-economics/21587795-if-congress-fails-lift-limit-americas-debts-consequences-are a.assume that the debt ceiling crisis

Write short notes on the stakeholders, Q1 How many types of software organ...

Q1 How many types of software organization? Explain each organization style with a suitable example? Q2 What are the factors that influence the group? Q3 Write short notes

Intermediate microeconomics, show that the necessary and sufficient conditi...

show that the necessary and sufficient conditions for consumer equilibrium under both cardinal and ordinal utility theories are identical .

Capital gain, Capital Gain: A capital gain is a form of profit which is ear...

Capital Gain: A capital gain is a form of profit which is earned on an investment by re-selling an asset for more than it cost to buy. Assets that can be purchased for this purpose

What is debt burden, Q. What is Debt Burden? Debt Burden:Real economic ...

Q. What is Debt Burden? Debt Burden:Real economic importance of a debt relies on interest rate that should be paid on debt and on total income of consumer or business which und

Tax policy implementation, Tax Policy Implementation: Take, e.g., the...

Tax Policy Implementation: Take, e.g., the case of tax policy. It attempted to raise resources by a combination of direct and indirect taxes to finance a large part of increa

Consumer surplus, using necessary and sufficient condition explain consumer...

using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?

Partial input elasticity of output, Partial Input Elasticity of Output: ...

Partial Input Elasticity of Output: This is a short-run concept which deals with the variability of only one factor keeping the others constant. There are three kinds of retu

Supply, plese give me supply assigement

plese give me supply assigement

Demand and supply, draw the demand curve,when there is rise in the price of...

draw the demand curve,when there is rise in the price of a product on the demand of the product

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages