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The demand for a luxury good whose purchase would exhaust a significant portion of one's income?
Wiki User
∙ 9y ago
The demand for a luxury good which when purchased would exhaust a significant portion of one's income would be considered relatively price elastic. Elasticity measures how responsive a particular economic variable is to a change in another economic variable.
Wiki User
∙ 9y ago
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What is demand and quantity of demand?
Demand is a function that defines how much of a certain good are the consumers willing to purchase at a given price.Quantity of demand is the quantity of a certain good the consumers are willing to purchase at a given price, as defined by the function of demand.
What is Implied demand uncertainty?
Implied demand uncertainty is resulting uncertainty for only the portion of the demand that the supply chain plans to satisfy and the attributes to the customer desires.
What is new and replacement demand?
If the purchase or acquisition of an item is meant as an addition to stock, it is new demand. It the purchase of an item is meant for maintaining the old stock of capital/ asset intact, it is replacement demand.
When you purchase goods or services what does it create?
When a consumer is able and willing to buy a good or service he or she creates a demand.
Would a monopolist ever operate in the in elastic portion of demand curve?
yes
Why is Google significant?
agreement with a demand
What is demand and quantity of demand?
Demand is a function that defines how much of a certain good are the consumers willing to purchase at a given price.Quantity of demand is the quantity of a certain good the consumers are willing to purchase at a given price, as defined by the function of demand.
What is Implied demand uncertainty?
Implied demand uncertainty is resulting uncertainty for only the portion of the demand that the supply chain plans to satisfy and the attributes to the customer desires.
What is new and replacement demand?
If the purchase or acquisition of an item is meant as an addition to stock, it is new demand. It the purchase of an item is meant for maintaining the old stock of capital/ asset intact, it is replacement demand.
When you purchase goods or services what does it create?
When a consumer is able and willing to buy a good or service he or she creates a demand.
Would a monopolist ever operate in the in elastic portion of demand curve?
yes
What is in effect when investors purchase stock?
supply and demand
Distinguish between demand estimation and demand forecasting?
Demand estimation's purpose is to determine the approximate level of demand for the product whereas demand forecasting's purpose is to estimate the quantity of product or service that consumers will purchase.
Consumers who are willing and able to purchase a product of service create an economic situation referred to as what?
demandconsumption
What is individual demand?
Indivdual demand means, every individual consumer choice. it means what he\she wants they will go to purchase that commodity, this activity be comes in economics inkividual demand
What do you call the amount of goods that buyers are willing and able to purchase?
Demand
What is effective demand?
Effective Demand is "the demand in which the consumer are able and willing to purchase at conceivable price" simply saying if the product price is low more will buy if the rates went high the quantity of the demand goes down
