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It could be perfectly elastic if the population demanded whatever can be supplied of coal at one price and no other. Its elasticity would have to be infinite.
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∙ 13y ago
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Is coal elastic or inelastic?
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
What is an example of a product which has a perfectly elastic demand?
One example is money. When one charges any value more than the face value of a piece of currency, the revenue drops to zero, because the value of the money given up by the consumer is larger than the value obtained. This means that no one would by your product, thus bringing revenue to zero. --> money is the example for highly elastic demand, isn't it?
What caused the 1970s increase demand for coal?
The surge in demand from electrical utilities, which comprised over 50 percent of coal industry sales, led to two of the most dynamic decades in U.S. coal history in the 1960s and 1970s.
What are the basic commodities with stable demand?
In my opinion stable demand commodities are those which are necessary in life such as oil, gas, corn, rice, coal, steel
What item could the colonists kids use for barter?
coal dust
Is coal elastic or inelastic?
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
Why could England transport coal cheaply?
The rising demand for coal came from many sources
What is an example of a product which has a perfectly elastic demand?
One example is money. When one charges any value more than the face value of a piece of currency, the revenue drops to zero, because the value of the money given up by the consumer is larger than the value obtained. This means that no one would by your product, thus bringing revenue to zero. --> money is the example for highly elastic demand, isn't it?
How has demand for coal changed since 1950?
how has demand for coal changed since 1950 the demand for coal has changed drastically scince the 1950's (quite obvious). this is a result of the relisation of the global problems it has had on the environment. the use of coal has also been replaced by more modern forms of energy resoures, such as electricity and gas. during the 1950s coal was used to heat homes, cook food, and even run traind. in modern society scince then we no longer require such a high demand for coal as we do not use it as much to do everyday requirements such as these.
What caused the 1970s increase demand for coal?
The surge in demand from electrical utilities, which comprised over 50 percent of coal industry sales, led to two of the most dynamic decades in U.S. coal history in the 1960s and 1970s.
Which invention resulted in an increase in the demand for coal?
dick me down
How much coal could a coal cart cart if a coal cart could cart coal?
It depends whether a coal cart would cart coal?
What is the energy source that cannot be traced back to the sun?
easy,energy from the food,coal and elastic band
How much is a lump of coal worth?
The price of coal varies depending on the level of customer demand. Additionally, the size of the lump of coal will make the price vary.
Which hydrocarbons are in less demand?
the less good ones
How has the demand for coal in Britain changed since 1950?
The demand for coal has changed since 1950 from 200 million to 60 million. This is because the main users are using coal fired power stations. 200 million in what units? Lumps, pounds, hundredweights, ton(ne)s?
Why did the demand for coal spike up during the Industrial Revolution?
Coal was being used to fuel industrial plants, to make steel, and to power the railroads.
