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Price elasticity of demand (PED) is defined as the measure of responsiveness in the quantity demanded for a commodity as a result of change in price of the same commodity. It is a measure of how consumers react to a change in price. Oil is inelastic, as it has few substitutes and the product is considered a necessity.
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What is elastic and inelastic collisions in terms of momentum?
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What is a elastic medium?
the elastic is medium
How do you increase elastic limit?
since freezing elastic object decreases its elastic limits, increasing temperature would increase elastic limits.
Relation between elastic constsnt?
The relationship between elastic constant is that two independent elastic constants is required.
What is the difference between elastic force and elastic potential energy?
Elastic force is a force which you are acting on it while elastic potential energy is produced when the spring is being compressed or stretched
Can sodium be elastic?
No sodium is not elastic but cod fish oil and some thing else that starts with a c
Can be stretched and then return to its own shape?
elastic
What is the suffix for elastic?
suffix for elastic
Why is Elastic Clause called Elastic Clause?
It is called Elastic Clause because it can be stretched like elastic.
Is gasoline a commodity price elastic or price inelastic?
Elastic if there are substitutes which is unlikely but possible as green energy is a growing market Inelastic if there are no substitutes which is mostly the case as in the case of oil, the price is set by the supplier and the consumer relies heavily on it.
What will be the total higher quantity do in the elastic inelastic and unit-elastic?
The midpoint between elastic and inelastic is unit elastic
What is elastic and inelastic collisions in terms of momentum?
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Is lay taxes elastic enumerated or denied?
elastic clause ~smooched~
What is a elastic medium?
the elastic is medium
Is a BMW an elastic or inelastic?
elastic
What are the types of supply elasticity?
Types of elasticity of supply1) Perfectly elastic supply2) Relative elastic supply3) Unitary elastic supply4) Relatively in elastic supply5) Perfectly in elastic supply
Is steel elastic?
Steel is not so elastic, but it definitely is elastic because of chemical composition.
