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Which factor does not affect the elasticity of demand for a good?
An increase in population
What factor does not affect the elasticity of demand for a good?
Increase in the population.
How is elasticity of supply related to elasticity of demand?
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
How do future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do future expectation about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
Which factor does not affect the elasticity of demand for a good?
An increase in population
What factor does not affect the elasticity of demand for a good?
Increase in the population.
What is unitary elasticity supply?
A unitary-elastic supply indicates a good with a supply-price elasticity of one, which means that a 1% change in price increases supply by 1%.
How is elasticity of supply related to elasticity of demand?
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
How do future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do the future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do future expectation about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
What are some common questions about elasticity that are frequently asked in economics?
Some common questions about elasticity in economics include: How does price elasticity of demand affect consumer behavior? What factors influence the elasticity of supply for a particular good or service? How does income elasticity of demand impact the overall economy? What is the relationship between cross-price elasticity and substitute or complementary goods? How can elasticity be used to predict market trends and make pricing decisions?
What is the price elasticity of supply when the quantity supplied of a good rises from 120 to 140 as prices rise from 4 to 5.50?
the quantity supplied of a good rises from 120 to 140 as price rise from 4 to 5.50. what is the price elasticity of supply?
What goods the example of unitary elasticity supply?
Unit elastic supply basically means that if price of a good rises, the supply of that good will rise an equal amount. A good example of his would be tomatoes.
What is an unitary elastic supply?
A unitary-elastic supply indicates a good with a supply-price elasticity of one, which means that a 1% change in price increases supply by 1%.
What will happen if supply decrease?
I assume you mean micro-economic situations, hence not aggregate supply. Generally demand will increase as supply decreases, and vice versa, but how much depends on the elasticity of demand. This is because as supply decreases, price level decreases also, so more people will demand the good or service.
