0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why the short run demand curve is usually less elastic than the long run demand curve?
this was just covered in econ 201 today...people have less time to adapt and find substitute goods in the short-run, but as time passes they are able to find substitutes, making it more elastic.
How much does the average house cost today in California?
California is a commercial city, where it is difficult to find the homes for sale. In my choice, the best option would be go with the online real estate. Here you can find homes for sale in easy way. The average house cost in california is $429,900 and it varies from area to area.
What good has inelastic supply and elastic demand?
Being counter intuitive means that such good doesn't exist ? Cos the professor said to find one so I thought there was one. Thank you for your answer
When is supply said be elastic?
Supply of a good is elastic when a small increase in price leads to a large increase in quantity supplied. A sociologist would explain this phenomena this way: This occurs because the good is easy to make - no complicated processes, small start-up capital, no need for skilled labour, rare-metals, anybody can do it! Thus, when the price increases by a little, many more new producers find that they can now produce the good (because now they are willing to accept the price on the market).
What is the definition of Elastic products?
By "elastic products" I am assuming you mean that the demand for these products is relatively elastic. This means that if the price of the product were to decrease, there would be a relatively large increase in the quantities demanded and if the price were to increase, there would be a relatively large decrease in quantities demanded. Products that tend to be elastic are products that have a large number number of substitutes, products that tend to be luxuries (people can do without them), and products that take up a relatively large portion of houshold income (like washing machines, refidgerators, etc.). The demand curves for these products tend to be relatively flat. That is a general definition of products that are "relatively elastic". Things that are "relatively inelastic" are ones that can change their prices, but people will still tend to buy the same amount of the product. These tend to be things that are not luxuries, but needs or addictions (like essential medicines or addictive substances) or things that don't take up much of a person's income (like pencils or salt). The demand curve for these products tend to be relatively steep. These are general ideas. To confuse things, however, most products have a price range where the demand is elastic and a price range where the demand is inelastic. The mathematical formula has you find the percentage change in price compared to the percentage change in quantity demanded. If the % change in price is greater than the % change in quantity demanded, then the demand for the product is inelastic in that price range. If the % change in price is less than the % change in quantity demanded, then the demand for the product is elastic in that price range.
For Halloween in what kind of house would you find ghosts cobwebs and paintings with eyes that follow you around Many of these are open to go through for Halloween in cities around the world?
You could find these in a haunted house! Or if your house is haunted!
What is the best elastic band for a beginner?
Essentially elastic bands are divided by their type. You would need to find your height on the box and then determine what size band that you need.
Where can you find Blassport elastic waist jeans?
live in connecticut where can i find Blassports elastic waist jeans?
What can a 15 year old do with her dad?
Find a project around the house to work together on Go to a place your dad would enjoy and you would feel comfortable find something you would like to do and see if he would want to join you
Where would you find a dormer window on a house?
On a house in the attic
Where would you find a trapezoid?
In a house.
What is something found around the house that starts with the letter U?
Underwear is found around the house. In the house you also find umbrella, uniform and utensils.
Where do you find a gloom?
around the way to Fortree and around the berry collectors house :]
How can you find a hidden door in your home?
Knock on the wall panels to see if any of them sounds hollow. If you find a hollow area, carefully examine around it to see if there are any visible cracks which would indicate an opening. Alternatively find the blueprints for your house as the hidden door would have been marked when the house was built.
Where can you find a good luck charm around your house?
If your looking for a good luck charm around your house, find some lucky things you have and look for something with your lucky things on it
Where is the move strengh in Pokemon Black and White?
You find it in a house in Nimbassa city. Just go from house to house around the pokemon center and you should find it.
What kind of spiders would you find in a house?
you can find house spiders in houses it alll depends where you live.
