--%>

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 : Hiring more labor in profit maximization

    When a firm hires an additional worker who adds $100 worth of output daily, and adds $50 daily to the firm’s costs, in that case the firm must: (w) hire more labor. (x) hire less labor. (y) not change its employment of labor. (z) sell off some o

  • Q : Recovery - Phases of business cycle

    Explain about the term Recovery in phases of business cycle.

  • Q : State the causes for downward sloping

    State the causes for downward sloping of demand curve?

  • Q : What is Oligopoly What is Oligopoly?

    What is Oligopoly? Explain in brief.

  • Q : Illustrates the term variable cost

    Illustrates the term variable cost?

  • Q : Boom - Phases of business cycle Explain

    Explain about the term Boom in phases of business cycle.

  • Q : Credentialism and Occupational Licensing

    Occupational licensing often requires qualifications with small relevance for performance in a specific position before an individual can legally be hired. Artificial and inefficient barriers to the practice of specific occupations, such as dog groome

  • Q : Labor Supplies in Competitive Markets

    The individual firm in a purely competitive labor market: (1) faces a perfectly elastic supply of labor at the equilibrium wage. (2) faces a perfectly inelastic supply of labor at the equilibrium wage. (3) has a perfectly elastic demand for labor at t

  • Q : Costs of investing in human capital The

    The costs of investing in human capital are probably to be borne through an employer when the human capital is: (1) general. (2) marginal. (3) precise. (4) generic. (5) specific. Can someone explain/help me with be

  • Q : Pure economic rents Pure economic rents

    Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce