Calculate the responsiveness of consumers, The price elasticity of demand i...

The price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity.  In other words, as price enhances (reduces), the qu

Explain why each of the following factors may influence the, Ask qExplain w...

Ask qExplain 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 com

Choosing inputs to minimize cost, Choosing Inputs  How to minimize ...

Choosing Inputs  How to minimize cost for the given level of output. We can do so by combining Isocosts with Isoquants                              Producing a

#title•The price of a laptop increases by 20% and there is a,

Change in consumer taste, Change in consumer Taste/preference: Any chang...

Change in consumer Taste/preference: Any change in consumer taste or preference causes demand to change. Increased taste or preference for a particular good causes demand to inc

Why elasticity is important for economic analysis, Why elasticity is import...

Why elasticity is important for economic analysis?  Elasticity is a significant concept in understanding the incidence of indirect taxation, marginal concepts as they relate to

N-m utility, nm utility index

nm utility index

Determine the sources of divergence, Sources of Divergence The principa...

Sources of Divergence The principal cause of extraordinary variation in output per worker between countries today are differences in their corresponding steady-state capital-ou

Consumer behavior, what are the properties of marshallian demand function

what are the properties of marshallian demand function

Subject matter of economics.., why does economist agree or disagree?

why does economist agree or disagree?