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

Members quota in imf, Member's Quota in IMF Quota represents the subs...

Member's Quota in IMF Quota represents the subscription by a member country to the capital fund of the IMF. Quotas are fixed for each country, taking into account such factor

Organic protons and electrons, Organic biochemistry is really as well as bi...

Organic biochemistry is really as well as biochemistry. This is because the as well as atom is the central source of all existing creature's substances. 8 protons and 8 electro

Macroeconomics, in the keynesian model, the price is assumed to be what?

in the keynesian model, the price is assumed to be what?

Derive market equilibrium and illustrate it graphically, Market demand and ...

Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively. (a

Frictional and cyclical unemployment, Frictional and Cyclical Unemployment:...

Frictional and Cyclical Unemployment: Frictional Unemployment: It refers to unemployment caused by changes in individual labour markets. This is the type of unemploymen

Inflation in Pakistan, I want to address Inflation in Pakistan but it itsel...

I want to address Inflation in Pakistan but it itself is a wide topic plz suggest me how to address Inflation to right a research article?????

What are the three major types of unemployment, What are the three major ty...

What are the three major types of unemployment? a) Frictional b) Structural and c) Cyclical unemployment. Cyclical unemployment is broadly spread by an economy durin

Elasticity, why is elasticity important for beachfronf properties

why is elasticity important for beachfronf properties

Determinants of social demand - economies of scale , Determinants of Social...

Determinants of Social Demand - Economies of Scale The universe of knowledge is highly diverse. There are certain branches of knowledge whose value to human culture and civil

Environmental effects of the use of robots in factories, A 1500 word resear...

A 1500 word research paper on the economic, social or environmental effects of the widespread use of robots in factories (this meets Learning Outcome 4)

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages