Significance of Elasticity of demand:1. Price discrimination:
When the demand for a product has dissimilar elasticity’s in various markets, then the monopolist can fix various prices in various markets. This price discrimination is only possible due to distinct price elasticity.2. Levy of taxes:
The government will obtain higher revenue when tax is raised on goods containing inelastic demand. On the contrary, the government will obtain lower revenue when tax is raised on goods containing elastic demand.3. International Trade:
Terms of trade refer to the rate at which the domestic commodities are swapped for foreign commodities. The terms of trade will be favorable to a country when its exports take pleasure in inelastic demand in global market.4. Determination of volume of output:
Volume of goods and services should be generated in accordance with the demand for commodity. Whenever the demand is inelastic, the producer will generate more goods to take the benefit of higher prices. Therefore the nature of elastic and inelastic demand aids in the determination of the volume of yield.5. Fixation of wages for laborers:
When the demand for workers is inelastic, hard work of trade unions to increase earnings of the workers will be booming. On other hand, when the demand for labor is elastic, they might not succeed in raising the salary rate by trade union activity.6. Poverty in the midst of plenty:
The notion of elasticity of demand elucidates the paradox of poverty that is, poverty in the midst of abundance. For illustration, bumper crop of food grains must bring agricultural prosperity however when the demand for food grains is inelastic, the agriculturist will be the loser when low price is compensated.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Theory of Demand help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Theory of Demand, project ideas and tutorials. We provide email based Theory of Demand help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Theory of Demand. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Theory of Demand. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
tutorsglobe.com aggregate demand assignment help-homework help by online demand tutors
The Energetic of Particle tutorial all along with the key concepts of a-Decay, Binding energy, disintegration energy of nuclei, Range of a -Particle, a-decay paradox, ß Decay, Electron capture or k-capture, ß-spectrum, Neutrino, ? - Decay
a computer as displayed in diagram below carry out mainly five main operations or functions irrespective of their size and make.
tutorsglobe.com breeds assignment help-homework help by online poultry tutors
www.tutorsglobe.com offers cost benefit analysis homework help, answering questions to cost benefit analysis, cost benefit analysis assignment help, accounting instant tutoring sessions for cost benefit analysis by online tutors.
Reactions of Carboxylic Acids tutorial all along with the key concepts of Acidic Properties of Carboxylic Acids, Reactions due to Carboxyl Group, Reactions involving hydroxyl group, Reactions of Carboxyl group, Reaction Due to Akyl group, Reaction involving Salts of acids
Theory and lecture notes of Understanding the Growth Model all along with the key concepts of understanding the growth model, growing economy, Growth of Capital per Worker, Capital-Output Ratio, Steady State Growth Path. Tutorsglobe offers assignment help and tutor’s assistance on Understanding the Growth Model.
tutorsglobe.com degradation of glycogen assignment help-homework help by online glycogen tutors
tutorsglobe.com computer networks assignment help-homework help by online computer science tutors
online sat exam preparation course and online sat tutoring package offered by www.tutorsglobe.com are the most comprehensive and customized collection of study resources on the web, offering best collection of sat practice papers, quizzes, sat test papers, and guidance.
Theory and lecture notes of Fiscal Policy-Automatic Stabilizers all along with the key concepts of Rules vs. Authorities, Competence and Objectives, Political Business Cycle , Central Bank Independence. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Fiscal Policy-Automatic Stabilizers.
magnetism of materials tutorial all along with the key concepts of response of different substances to a magnetic field, magnetic moment and angular momentum, diamagnetism and paramagnetism and larmor precession
pH Measurement-Relative Molar Mass tutorial all along with the key concepts of How to Measure with ph Paper, Description on relative molar mass, Procedure
tutorsglobe.com clinical manifestations of vibrio assignment help-homework help by online vibrio tutors
www.tutorsglobe.com offers Hide Data Structures homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
1955969
Questions Asked
3689
Tutors
1486361
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!