Define the inelastic demand
Define the inelastic demand.
Expert
Perfectly inelastic demand:
In this case, even a huge change in price fails to bring regarding a change in quantity demanded. It is the change in price will not influence the quantity demanded and quantity remains similar whatever the change in price. Now there demand curve will be vertical line as given and ep= 0.
What are the types of price discrimination?
Assume that you require studying six hours per week to earn a ‘C’, nine hrs a week to earn a ‘B’, and 15 hrs per week to earn an ‘A’. This would mean: (i) Raising returns to hrs studied. (ii) Diminishing returns to hrs studied. (iii
Illustrates the steps in formulating pricing policies in details?
Firing a worker who regularly goods off and calls in sick may not resolve the moral hazard problem of shirking when: (w) there is a high probability which the worker will sue the firm. (x) the local unemployment rate is high. (y) average worker productivity is low. (z
The supply of certain types of labor is determined through the: (w) skills of potential workers. (x) the availability of other workers. (y) the prices of output. (z) production technology. I need a good answer on the topic of
Net economic investment plus depreciation equivalents: (a) the capital output ratio. (b) gross economic investment. (c) gross domestic product. (d) the capital stock. Hello guys I want your advice. Please recommend
States the Scarcity Definition in economics?
As the labor market within a purely competitive economy is into equilibrium: (1) the marginal benefits by unemployment exceed unemployment compensation. (2) the marginal benefits and marginal costs from employment are equal. (3) econo
Explain the cost function in briefly.
Illustrates the managerial Economics according to Michael Baye? Answer: In the words of Michael Baye as this term Managerial Economics is the study of how to directl
18,76,764
1939773 Asked
3,689
Active Tutors
1426074
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!