When is price elasticity of demand taken as inelastic

The price elasticity of demand is considered as to be inelastic when the computed value is: (w) less than one although greater than zero. (x) greater than zero. (y) one. (z) zero.

Hello guys I want your advice. Please recommend some views for above Economics problems.

View Complete Question

Related Questions in Microeconomics

Q : Labor Union Goals-Minimum employment

Can someone please help me in finding out the accurate answer from the following question. When a union achieved the maximum possible hourly wage: (i) All of the members would be pleased. (ii) Employment would as well be maximized. (iii) Employment would be at minimum

Q : Marginal revenue of purely competitive

When boosting output by hundred units raises total revenue by $1200, in that case a purely competitive firm’s marginal revenue the same as: (w) $1,200. (x) $120. (y) $12. (z) $120,000. I need a good answer on

Q : Economic profits in long run A monopoly

A monopoly will make economic profits within the short run: (w) but cannot create economic profits in the long run. (x) if average total costs [ATC] > P. (y) as long as total revenue exceeds total costs. (z) All of the above.

Q : Unitarily price elastic supply for

Supply is unitarily price elastic for all quantities and prices upon: (i) supply curve S1. (ii) supply curve S2. (iii) supply curve S3. (iv) supply curve S4. (v) supply curve S5.

Q : Malthusian theory on population What do

What do you mean by the Malthusian theory on population?

Q : Consistency of supply curve with

The supply curve most consistent along with the inelastic supply of land into Antarctica is demonstrated in: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

Q : Price elasticity of demand as the

The price elasticity of demand is approximately measured as the absolute value of as: (1) (% change in Q) / (% change in Y). (2) ratio of the slopes of demand relative to supply. (3) (% change in Q) / (% change in P). (4) constant slo

Q : Decreases in market demand of

Decreased market demand for generic bricks would result in a(n) ___________ in the price of bricks and a(n) ___________ in this brickyard’s profit-maximizing output. (w) increase; decrease. (x) increase; increase. (y) decrease;

Q : Define Invisible items Invisible items

Invisible items: All kinds of services that are rendered to or obtained from abroad are termed as invisible items. Such are invisible as these are not made up of any matter or material. The record of such items is not obtainable with the ports. Illust

Q : Demand perfectly price elastic

Demand is perfectly price elastic when the price for Pixie's cheesy fried grits is a mostly unmeasurably small bit below the: (1) zero. (2) P1. (3) P2. (4) P3. (5) P4.

Discover Q & A

Leading Solution Library

Avail More Than 1456093 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1945343
Asked

3,689

Active Tutors

1456093

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment