Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Unit Elasticity of Supply
Supply is said to be of unit elasticity if changes in price bring about changes in quantity supplied in the same proportion. Thus, when price rises, quantity supplied increases in the same proportion, and when price falls, quantity supplied falls in the same proportion. The supply curve is a straight line through the origin, and the elasticity of supply is equal to one or unity.
When price rises from P1 to P2, quantity supplied increases in the same proportion from q1 to q2. This is the case of a commodity of which there is a fair amount of stocks or which can be produced within a fairly short period of time.
Conversely, when price falls from P2 to P1, quantity supplied falls in the same proportion from q2 to q1. This is the case of a commodity which is fairly easily stockable, e.g. dry foods, like dry beans and dry maize.
Use a computer regression package, to work these two computer exercises. 2. Ozark Bottled Water Products, Inc. hired a marketing consulting firm to perform a test marketing of its
Demand for money The demand for money is a more difficult concept than the demand for goods and services. It refers to the desire to hold one's assets as money rather tha
1. Prof. Marshall 'The more nearly perfect a market is, the stronger is the tendency for same price to be paid for same thing at the same time in all parts of the market". 2. Pr
what is deadweight loss calculation?
Techniques of Managerial Economics Managerial economics draws on a wide range of economic tools, concepts and techniques in decision-making process. These concepts can be cons
Disposable Income This is the income which households actually have available to spend or to save. To calculate disposal income, which is indicated by Ya, the statistician mu
why firms under oligopoly market should follow price rigidity?
What is the demand function It should be noted that by demand function, economists mean entire functional relationship which is the whole range of price-quantity relationship a
1. What kind of market structure is involved for the sale of medicines and vitamins? 2. What can be said about barriers to entry in this market? 3. Might there be a change in mar
explain the supply function and importance of supply analysis in brief
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd