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What is elasticities approach?
analysis of the balance of payments based upon the price elasticities of demand for imports and exports
What other elasticities of demand are there besides price income and cross-price?
Adverisement Elasticity of Demand
Why is the demand curve not representative of price elasticity?
price elasticities are always negative hence brings ambiguities in the demand curve
What is marshall lerner condition?
The condition that the sum of the elasticities of demand for exports and imports exceed one (in absolute value); that is, hX + hM > 1, where hX, hM are the demand elasticities for a country's exports and imports respectively. Assuming the current account balance = 0 and supply elasticities are inifinte (necessary but not sufficient) this is the condition for a depreciation to improve the trade balance
What is an elasticity approach?
analysis of the balance of payments based upon the price elasticities of demand for imports and exports
What are the determinants of the dead weight loss in economics?
The determinants of the deadweight loss in economics are the price elasticities of supply and demand.
What is the purpose of charging different groups of customers different prices?
The purpose of charging different customers different prices is to meet their demand elasticities.
Calculate the four types of elasticities by taking the examples from your daily life?
Calculate the four types of elasticities by taking the examples from your daily life. Calculate the four types of elasticities by taking the examples from your daily life.
Calculating income and cross price elasticities from a demand equation. Examples and workings please?
Suppose demand for inkjet printers is estimated to be Q = 1000 - 5p + 10pX - 2pZ + 0.1Y. If p = 80,pX = 50,pZ = 150, and Y = 20,000;
What has the author Ralph M Seeley written?
Ralph M Seeley has written: 'Equilibrium price solution of net trade models using elasticities' -- subject(s): Agricultural prices, Agriculture, Economic aspects, Economic aspects of Agriculture, Mathematical models 'Price elasticities from the IIASA world agricultural model' -- subject(s): Mathematical models, Agricultural prices, Supply and demand
What signs are the cross elasticities for substitute products?
Cross elasticity of demand for substitute products is positive. This means that if the price of one product increases, the demand for its substitute tends to increase as well, indicating that consumers will switch to the alternative. Conversely, if the price of the substitute decreases, the demand for the original product may decrease. This positive relationship highlights the competitive nature of substitutes in the market.
Discuss the merits and drawbacks of the point-by-point and block methods?
The point method measure price elasticity of demand at a different point. Its a refund.
