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There are plenty of factors affecting elasticity of demand including climate of the area. Other factors that effect elasticity of demand include supply and group of people buying.
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What factors influence the demand for goods with elastic demand?
Factors that influence the demand for goods with elastic demand include the availability of substitutes, the necessity of the good, and the proportion of income spent on the good.
What factors affect elastic energy?
Factors that affect elastic energy include the material's elastic modulus (stiffness), the amount of deformation or stretching applied to the material, and the shape or configuration of the material. Additionally, temperature can also affect the elastic properties of a material.
What 2 factors affect elastic potential energy?
The two factors that affect elastic potential energy are the amount of stretch or compression of the elastic material and the stiffness of the material, determined by its spring constant.
What factors determine whether a product has elastic, inelastic, or unit-elastic demand in the market?
The factors that determine whether a product has elastic, inelastic, or unit-elastic demand in the market include the availability of substitutes, the necessity of the product, the proportion of income spent on the product, and the time frame considered.
What factors contribute to the shape of a unit elastic demand curve for a product?
The shape of a unit elastic demand curve for a product is influenced by factors such as the availability of substitutes, the necessity of the product, and the proportion of income spent on the product.
What factors influence the pricing strategy for products with elastic demand?
Factors that influence the pricing strategy for products with elastic demand include the availability of substitute products, consumer income levels, and the overall market competition.
What factors determine the demand for perfectly elastic goods in the market?
The demand for perfectly elastic goods in the market is determined by factors such as the availability of close substitutes, consumer preferences, and the price of the good. When there are many substitutes available, consumers are more likely to switch to a different product if the price changes, leading to a perfectly elastic demand curve.
Which demand can become more elastic over time what changes can take place in the long term to affect demand?
Gasoline
What are the factors that affect demand?
advertising
What is aggregate demand and what are the factors that affect aggregate demand?
nothing
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Is the demand for insulin elastic or inelastic?
The demand for insulin is considered inelastic, meaning that changes in price do not significantly affect the quantity demanded.
