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Are pork chops elastic or inelastic or both?
Pork Chops are elastic because the demand can shift due to the effects of substitute markets such as Beef and Chicken.
Is rice production consider as Inelastic demand or elastic demand?
Production itself cannot have inelastic demand, only supply. I will look at both cases. The demand for rice as a good is very inelastic. This is because people will buy rice no matter the price, because in many places of the world, it is their main source of food. Recently rice as skyrocketed in price (resulting in riots in places), but people still buy it. This is mainly out of necessity, but alternatives are emerging. The elasticity of supply is also inelastic, as we are looking at a huge rise in prices, but a very small change in production.
When is the deadweight loss the greatest?
when both demand and supply are elastic
How does a tax a good affect the price paid by buyers the price received by sellers and the quantity sold?
it will totally depand upon elasticity of supply and demand if it is elastic then iten the tax paid will be by both however if it is inelastic then burden of tax will be laid upon buyer
What do positive and negative cross elasticity indicate?
the demand for good A and the demand for good B are both price elastic
Are pork chops elastic or inelastic or both?
Pork Chops are elastic because the demand can shift due to the effects of substitute markets such as Beef and Chicken.
What is elastic and inelastic collisions in terms of momentum?
In elastic collisions, both momentum and kinetic energy are conserved. This means that momentum before and after the collision is the same, and the objects bounce off each other without any loss of kinetic energy. In inelastic collisions, momentum is conserved but kinetic energy is not. Some kinetic energy is converted into other forms of energy, such as heat or sound, during the collision.
Distinguish beween and elastic and inelastic collision for wich type of collision is momentum conserved?
Momentum is conserved in both elastic and inelastic collisions. Mechanical energy is conserved only in elastic collisions. In inelastic collisions, part of the energy is "lost" - usually most of it would be converted to heat, eventually.
Is rice production consider as Inelastic demand or elastic demand?
Production itself cannot have inelastic demand, only supply. I will look at both cases. The demand for rice as a good is very inelastic. This is because people will buy rice no matter the price, because in many places of the world, it is their main source of food. Recently rice as skyrocketed in price (resulting in riots in places), but people still buy it. This is mainly out of necessity, but alternatives are emerging. The elasticity of supply is also inelastic, as we are looking at a huge rise in prices, but a very small change in production.
Can momentum be preserved in elastic and inelastic collision?
Momentum is always conserved in both elastic and inelastic collisions. In elastic collisions, kinetic energy is also conserved, whereas in inelastic collisions, some kinetic energy is converted into other forms such as thermal energy or sound.
Is medical technology elastic or inelastic?
Both the supply side and the demand side of medical technology are elastic. As soon as a new technology is available, or if there is a price reduction, increased demand will lead to an increased supply. At base, most medical technologies are simple, and do not use exotic materials, - the availability of supplies is almost unlimited. And on the demand side, there is an almost unlimited demand for various technologies (consider cochlear implants), as soon as there is a technological or a price improvement, the demand will increase.
When is the deadweight loss the greatest?
when both demand and supply are elastic
How does a tax a good affect the price paid by buyers the price received by sellers and the quantity sold?
it will totally depand upon elasticity of supply and demand if it is elastic then iten the tax paid will be by both however if it is inelastic then burden of tax will be laid upon buyer
What is elastic and inelastic collision?
In an elastic collision, no kinetic energy is lost, and the relative speed of separation of the objects after the collision is the same as the relative speed before the collision. In an inelastic collision, part of the elastic energy is lost, and the relative speed after the collision is less.
What do positive and negative cross elasticity indicate?
the demand for good A and the demand for good B are both price elastic
Difference between elastic an inelastic buckling?
The elastic bucklingoccursfor slender columns that have a large slenderness parameter(KL/R) before any yielding in the materials. While the inelastic buckling occurs for intermediate columns that have amoderate(KL/r) ratio and the failure occurs by both the buckling and part of the materials yieldingsimultaneously
What is the definition of price elasticty of demand?
Demand elasticity is how much demand is affected based on a change in price. An elastic good is highly affected by price small chanages. Demand plummets and people substitue for something else. An inelastic good is not affected by any size change in price. Basically, elasticity is a measure of how essential a good is to people. On a supply/demand chart, demand elasticity is measured by the slope of the demand curve. Steeper curves are less elastic. Examples: Gasoline demand is fairly inelastic. Global demand for gasoline changes very little between $1.50 per gallon and $3.00. People buy almost the exact same amount at any price (in the short run). A particular brand of coffee would be fairly elastic. If Folgers and Maxwell House were both selling coffee for $4 a pound demand would be fairly equal (assuming there are no taste differences and brand loyalty). If Folgers raised their price to $4.25, pretty much everyone would buy the Maxwell House, all else being equal.
