0
exploitation of monopoly power in market-the extent to which a firm or firm with monopoly power can raise price in market to extract consumer surplus and it into extraprofit
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What are importance of elasticity of demand in economics?
Importance of elasticity in economics
Why study elasticity of demand and supply?
We have to study the elasticity of demand and supply so that we can know what we want to know.
Importance of elasticity of demand?
It is important because if a company doesn't understand their product's elasticity of demand, they are screwed!
What factor had the greatest influence on elasticity and in elasticity of supply?
Demand from consumers.
Elasticity of Demand and Supply with graph?
buang ka
What are importance of elasticity of demand in economics?
Importance of elasticity in economics
Why study elasticity of demand and supply?
We have to study the elasticity of demand and supply so that we can know what we want to know.
What is the importance of price elasticity of demand in decision making with regards to choosing the best pricing strategy to maximize revenue?
Supply + Demand = Price
Importance of elasticity of demand?
It is important because if a company doesn't understand their product's elasticity of demand, they are screwed!
Elasticity as applied to demand and supply?
Do not answer this...hahah
What factor had the greatest influence on elasticity and in elasticity of supply?
Demand from consumers.
Elasticity of Demand and Supply with graph?
buang ka
What is the importance of price elasticity to a cellphone dealer?
what are the importants of price elasticity of demand to a cellphone dealer
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
What is price elasticity?
price elasticity is the degree of responsiveness of demand or supply to a small change in price.
What happens to the price if supply increases?
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.
Point elasticity of supply?
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.
