0
How might a firm set about making the demand for its brand less elastic?
Wiki User
∙ 8y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What goods or services might a tax increase be hardest to pass on to consumers?
a product with elastic demand
Under perfect competition is average revenue curve elastic or inelastic?
Under Perfect Competition the demand curve is perfectly elastic. I don't know if that helps but it might
What is the definition of elasticity of demand?
Demand elasticities refer to the response among consumers of a good to a change in the good's price. "Elastic" demand means that a small increase in price will lead to a relatively large decrease in demand (or vice versa). Goods with elastic demand curves tend to have many close substitutes. For example, demand for "tangerines" is more elastic than demand for "citrus fruits," because if the price of tangerines rises, you can switch to oranges etc. Likewise, the demand for "citrus fruits" is more elastic than the demand for "fruit," because if all citrus fruits rise in price, you can switch to apples, bananas, etc, but if the price of all fruits goes up, you're not likely to buy a leg of lamb instead. Items that are highly "inelastic" may be things that represent small portions of a consumer's budget. If salt goes from $.69 to $3, that is a huge increase in price. But will you stop buying salt? Highly unlikely, because it still represents a small portion of your income, and there are few if any less expensive substitutes. You might not even notice.
How do you determined market demand?
Market demand for particular good or service = number of goods or services that will be sold at a given price. For instance, in a small town the demand for designer cologne at $30 might be 25 bottles... at $40 it might be 10 bottles and at $10 it might be 70 bottles. Is that what you're looking for?
Price gouging might be the result of?
sudden increase in demand.
What goods or services might a tax increase be hardest to pass on to consumers?
a product with elastic demand
Under perfect competition is average revenue curve elastic or inelastic?
Under Perfect Competition the demand curve is perfectly elastic. I don't know if that helps but it might
The difference between a elastic and inelastic demand?
Elastic demand changes according to some other factor. The demand for holdiay trees is elastic throughout the year because there is only damand during the winter season. Inelastic demand is constant. As you might have guessed, the demand for gasoline is inelastic because most families need a constant supply. Even during the so-called summer driving season, the uptick in demand is going to remain the same, unless prices cause what is called "demand destruction." This is what happened during 2009.
What is elasticity of demands?
How much demand of a product goes up or down depending on the price. Elastic demand changes greatly as price changes - for normal goods, as the price goes up, demand drops. Demand for things like non-staple food - like cookies - is elastic. If cookies cost 50 cents a box, there might be huge demand for them. But if that price goes to $10 a box, if the price were elastic, the demand would be much lower. For an inelastic demand curve, people's demand changes little as prices change. THese are goods for which there are few substitutes. Things like gasoline have relatively inelastic demand curves - people will slow down their use/demand of gasoline a bit as prices go up, but a certain level of gasoline consumption is going to exist regardless of price. People are simply going to pay what they have to to get it.
What is the definition of elasticity of demand?
Demand elasticities refer to the response among consumers of a good to a change in the good's price. "Elastic" demand means that a small increase in price will lead to a relatively large decrease in demand (or vice versa). Goods with elastic demand curves tend to have many close substitutes. For example, demand for "tangerines" is more elastic than demand for "citrus fruits," because if the price of tangerines rises, you can switch to oranges etc. Likewise, the demand for "citrus fruits" is more elastic than the demand for "fruit," because if all citrus fruits rise in price, you can switch to apples, bananas, etc, but if the price of all fruits goes up, you're not likely to buy a leg of lamb instead. Items that are highly "inelastic" may be things that represent small portions of a consumer's budget. If salt goes from $.69 to $3, that is a huge increase in price. But will you stop buying salt? Highly unlikely, because it still represents a small portion of your income, and there are few if any less expensive substitutes. You might not even notice.
Is steel is more elastic then rubber?
No, because rubber stretches then snaps back into place. Spring steel might be as elastic as rubber BUT normal steel is much less elastic than rubber.
Why Papetti's brand frozen omelets which are now made by Michael Foods are so hard to find?
Michael Foods changes product distribution areas depending on sales revenue and store demand. When a food product loose demand, the company might start to phase it out by stopping production.
Does anyone have simple easy instructions on making king size fitted sheets?
The easiest thing to do might be to take an old sheet apart and look at how it was put together. You can make the elastic shorter, since it won't be as stretched out.
Are folding table legs replace-able or fixable?
Actually depending on the brand, there are some replacement legs sold for folding tables. I would look up the brand name for a replacement part. If your brand does not offer replacements a local welder might weld it back on for you making it as good as new.
When a car hits another car what kind of energy is that?
There are two kinds of collision - elastic and inelastic. In an elastic collision, all the kinetic energy remains kinetic, though it might be transferred between objects in the collision. So the initially moving object could bounce back with the hit object staying in place, or the hit object might move and the initially moving object might stop. Or it might be a mix of both. Not only things that you think of as elastic have elastic collisions. Very hard things sometimes tend to have elastic collisions too. Not only rubber balls but also billiard balls and baseballs tend to have elastic collisions. The other type of collision is an inelastic collision. Some of the energy can remain in a kinetic form. The rest is converted to heat, sound, and breaking or deformation of the colliding objects.
How do you determined market demand?
Market demand for particular good or service = number of goods or services that will be sold at a given price. For instance, in a small town the demand for designer cologne at $30 might be 25 bottles... at $40 it might be 10 bottles and at $10 it might be 70 bottles. Is that what you're looking for?
Price gouging might be the result of?
sudden increase in demand.
