Price elasticity has a lot to do with how firms and governments can predict costs and profits. The greater the elasticity, the more uncertain their financial projections will be.
what are the importants of price elasticity of demand to a cellphone dealer
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
in oligopoly what is the nature of price elasticity
price elasticity is the degree of responsiveness of demand or supply to a small change in price.
what are the importants of price elasticity of demand to a cellphone dealer
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
Supply + Demand = Price
in oligopoly what is the nature of price elasticity
price elasticity is the degree of responsiveness of demand or supply to a small change in price.
price elasticity=%change in quantity divided by %change in price it's inelastic when the absolute value of price elasticity is between 0 and 1
There must be a change in the price to calculate the price elasticity. Elasticity depends on the changes in the demand of a good or service based on the change in the price of a good or service.
distinguish between price elasticity of demand and income elasticity of demand
The price elasticity refers to the change in demand due to the change in price. The income elasticity of demand on the other hand refers to the change in demand due to the change in income.
The price elasticity of salt is lower than that of the Toyota car because by changing the unit of measurement of salt leaves the elasticity value the same.
price elasticity