Expectation elasticity of demand mean if in future the price will rise then in present the demand of that comm. will fall i.e elasticity will be +ve.. n vice versa..., RELATIONSHIP OF EXPECTION OF PRESE WITH THAT COMMODITY Expectations about future price rise or fall is directly related with present or a recent demand i.e if prise rise in future, the demand will rise 4 that comm. n vise versa....
price elasticity of demand means the degree of responsiveness in change in quantity demanded of a commodity due to change in prices,,, it means how much d demand is changing with d change in price.
Price elasticity of demand is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price.
distinguish between price elasticity of demand and income elasticity of demand
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
Unitary elasticity is when the price elasticity of demand is exactly equal to one.
In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.
Price elasticity of demand is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price.
distinguish between price elasticity of demand and income elasticity of demand
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
Unitary elasticity is when the price elasticity of demand is exactly equal to one.
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.
role of price elasticity of demand in managerial decisions
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.
Price elasticity of demand is positively correlated with the existence of substitute goods.
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
The conclusion of the price of elasticity of demand is the effect of price change based on the revenue it receives. It is based off the demand of the product and the price of the product.
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.