--%>

How many types are of price elasticity of demand

How many types are of price elasticity of demand?

E

Expert

Verified

There are five kinds of price elasticity of demand. It is called Degree of elasticity of demand. Like perfectly elastic demand, relatively inelastic demand, relatively elastic demand, unitary elastic demand and perfectly inelastic demand.

   Related Questions in Managerial Economics

  • Q : Smoothing techniques or Exponential

    Explain about the term smoothing techniques.

  • Q : Illustrates the Barometric technique of

    Illustrates the Barometric technique of Demand Forecasting?

  • Q : Marginal Resource Costs and Wage Rates

    For a profit maximizing competitive firm operating within a competitive labor market, therefore the: (w) marginal resource cost of labor is the same to the wage rate. (x) supply of labor is perfectly inelastic. (y) production quota is

  • Q : Shifting of market for productivity

    When the U.S. soybean market is primarily in equilibrium on S0D0, and in that case a new fertilizer raises farm productivity and concurrently, foreigners are permitted greater access to U.S. soybean, there the market shifts to: (

  • Q : States the term Production States the

    States the term Production?

  • Q : Illustrates the term long run

    Illustrates the term long run production function?

  • Q : Backward bending supply curve for labor

    A backward bending supply curve for labor arises while: (w) firms wish to hire only a specific quantity of labor. (x) there is a change in the elasticity of resource supply. (y) workers prefer leisure over added income above several wage. (z) minimum

  • Q : Illustrates the plethora of definitions

    Illustrates the plethora of definitions regarding subject matter of economics?

  • Q : Competitive Profit Maximization in

    A profit-maximizing competitive firm hiring by a competitive labor market will be within equilibrium where is: (w) MPP = MRC. (x) w = MRC. (y) VMP = MPP. (z) VMP = w. Hey friends please give your o

  • Q : Imports good in purely competitive

    When this purely competitive labor market is primarily in equilibrium at of D0L, S0L, a shift to equilibrium at D2L, S0L would be probably to follow by increases in: (1) minimum wage laws. (2) imports of this good from forei