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Why is elasticity of demand a fine theoretical concept of economists but difficult for marketers to use in practice?
it is what elasticity of demand
What are the benefits of elasticity to government?
How can government benefit from the elasticity concepts? Analyse the various economic policies which will benefit from the concept.
Why is determining demand elasticity important in economics?
What are the determined factors of price elasticity of demand
How the elasticity of demand affect managerial decisions?
Elasticity of demand affects managerial decisions because the demand of a product changes with the wrong business decision. Managers must be careful about what they choose to do with their products.
Why is elasticity an important concept for a business like beachfront properties?
Elasticity an important concept for a business like beachfront properties because it determines how much the value of the property could potentially fluctuate. If the price goes down, demand increases.
Significance of elasticity of demand?
Elasticity of demand will help managers determine what behaviors affect customer's buying behavior. Price elasticity will tell managers whether they can change the price of products or not.
Demonstrate the Relationship between elasticity and totoal revenue?
how government use the elasticity concept to genrate revenue
Why is elasticity of demand a fine theoretical concept of economists but difficult for marketers to use in practice?
it is what elasticity of demand
What are the benefits of elasticity to government?
How can government benefit from the elasticity concepts? Analyse the various economic policies which will benefit from the concept.
Why is determining demand elasticity important in economics?
What are the determined factors of price elasticity of demand
How the elasticity of demand affect managerial decisions?
Elasticity of demand affects managerial decisions because the demand of a product changes with the wrong business decision. Managers must be careful about what they choose to do with their products.
Where is lake maricibo?
with example explain the concept of of elasticity of supply and interpretating the result graphical and descuse the relationship between price elasticity and suppliers total revenue
Why is elasticity an important concept for a business like beachfront properties?
Elasticity an important concept for a business like beachfront properties because it determines how much the value of the property could potentially fluctuate. If the price goes down, demand increases.
Explain the concept of income elasticity of demand and how it is calculated?
When you have less income you tend to consume less.
The concept used by economics to indicate the response of quantity demanded to a change in price is known as?
elasticity
What is meant by concept of elasticity of demand?
The degree of responsiveness of change in demand as a result of change in its price is known as elasticity of demand. I mathematical language we can say that; Elasticity of demand = %age change in Quantity Demanded DIVIDED BY %age change in the Price.
What makes elasticity a physical property?
The concept of elasticity is a physical property because force can mutate a physical item and then when that force is removed and elastic object returns to its original form.æ Using elasticity to explain non physical phenonmena is a misnomer.
