buang ka
We have to study the elasticity of demand and supply so that we can know what we want to know.
Demand from consumers.
which is true about the functional relationship shown in the graph
Elasticity of supply refers to the responsiveness of guantity supplied of a commodity to changes in its own price. And the formulafor measuring elasticity of supply percentagechange in quantity supplied/ %change in price
A unitary elastic graph represents a price elasticity of demand of 1, indicating that a change in price leads to an equal percentage change in quantity demanded.
We have to study the elasticity of demand and supply so that we can know what we want to know.
Do not answer this...hahah
Demand from consumers.
which is true about the functional relationship shown in the graph
Elasticity of supply refers to the responsiveness of guantity supplied of a commodity to changes in its own price. And the formulafor measuring elasticity of supply percentagechange in quantity supplied/ %change in price
A unitary elastic graph represents a price elasticity of demand of 1, indicating that a change in price leads to an equal percentage change in quantity demanded.
price elasticity is the degree of responsiveness of demand or supply to a small change in price.
If the cost of supply falls for each unit of supply (a shift of the supply curve right), the change in price depends on the price elasticity of demand: Price is unchanged when price elasticity of demand is infinite. Price falls when price elasticity of demand is less than infinite.
The point elasticity of supply is a measure of the rate of response of quantity demand due to a price change. The higher the elasticity, the more sensitive the sellers are to these changes.
supply and demand curve for hybrid vehicles
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
Elasticity.