How elasticity is always referred to as a positive value, Microeconomics

Assignment Help:

How elasticity is always referred to as a positive value even though it can be negative?

In economics, elasticity is measures of the incremental percentage change in single variable with respect to an incremental percentage alter in another variable. Elasticity is almost always referred to as a positive value, meaning that people use the absolute value in the case of a part of elasticity that is normally negative.

Related Discussions:- How elasticity is always referred to as a positive value

Production having two outputs - economies of scope, Production having Two O...

Production having Two Outputs -Economies of Scope * Economies of scope exist when joint output of a single firm is greater than the output which could be achieved by two diffe

Insurance, #question.Question: Answer all parts (a, b, c, d, e & f). Consi...

#question.Question: Answer all parts (a, b, c, d, e & f). Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L,

Law of diminishing returns, law of diminishing returns

law of diminishing returns

Explain the assumptions of a perfectly competitive market, Question 1: ...

Question 1: i) Elaborate on how CPI is used to calculate inflation and what are the limitations of such a measure? ii) Growth is always beneficial. Discuss iii) Explain

Nature and scope of economics, explain the nature and scope of economics.

explain the nature and scope of economics.

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

Rent theory, explain about rent theory

explain about rent theory

Price elasticity of supply, Price elasticity of supply: It is the resp...

Price elasticity of supply: It is the responsiveness of quantity supplied of a commodity to a change in the price of the commodity and measured as percentage change in quantit

Forecasting, what are the forecasting techniques

what are the forecasting techniques

Monopoly, what the third degree price discrimination with case study of two...

what the third degree price discrimination with case study of two successfull and unsuccessfull cases?

Write Your Message!

Name

Email id

Message

Verfication Code

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!

Submit Assignment

User Account

All Pages