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How is it possible for many elasticities to be associated with a single demand curve?
Wiki User
∙ 14y ago
This is possible because demand is a function of many many factors. The biggest ones are price and wealth (also known as income). If an agent's income goes up, their demand for any given good will also good up. If the price goes up, an agent's demand will go down. Thus you have the price and income elasticity of demand. In a market with two goods, if agents divide their income amongst goods (for instance apples and Oranges), you could easily derive a cross-price elasticity of demand that measures how much the price/demand of one good changes when the other good changes.
Wiki User
∙ 14y ago
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What the primary difference between aggregate demand curve and individual demand curve?
aggregate demand curve is the total sum of all the individual demand curves while individual demand curve is the demand made by the single individual.
Is The aggregate demand curve downward sloping for the same reason that the demand curve for a single good is downward sloping?
true because it is still supply and demand downward sloping
What are demand curve and demand schedule?
a demand curve is a single curve which slopes downwards from left to the right indicating an inverse relationship between price and quantity demanded. a demand schedule is a table which gives the quantity demanded at each range of prices.
Why do single firms in perfectly competitive markets face horizontal demand curves?
Gdbugufifudusks
What are the demand schedule and the demand curve and how are they related?
i. A demand curve is a single curve which slopes downwards from left to the right indicating an inverse relationship between price and quantity demanded And A demand schedule is a table which gives the quantity demanded at each range of prices.
With what is the term 'hitting the circuit' is the term associated?
Baseball, when you hit every possible hit (single,double,homerun,etc)
Can police let you go and demand you turn yourself in after single auto accident?
The police can let you go and demand you turn yourself in after a single auto accident if they feel a crime has been committed. All accidents must be properly reported and properly dealt with to avoid possible legal action.
What the primary difference between aggregate demand curve and individual demand curve?
aggregate demand curve is the total sum of all the individual demand curves while individual demand curve is the demand made by the single individual.
Is The aggregate demand curve downward sloping for the same reason that the demand curve for a single good is downward sloping?
true because it is still supply and demand downward sloping
What is associated with single celled ancestor theory?
line of descent
What is associated with the single celled ancestors theory?
line of descent
What is associated with the single-celled ancestor theory?
line of descent
What term is associated with single celled theory?
line of descent
What is a single molecule of DNA and associated proteins?
a Chromosome
Can a single gene control a sigle trait?
Its possible. A single gene defines a single protein.
What are demand curve and demand schedule?
a demand curve is a single curve which slopes downwards from left to the right indicating an inverse relationship between price and quantity demanded. a demand schedule is a table which gives the quantity demanded at each range of prices.
Why do single firms in perfectly competitive markets face horizontal demand curves?
Gdbugufifudusks
