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Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
If the elasticity is greater than 1 is demand elastic or inelastic If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?
If the elasticity is greater than 1, demand is considered elastic, meaning that consumers are highly responsive to price changes. Conversely, if the elasticity equals 0, demand is perfectly inelastic, indicating that quantity demanded does not change regardless of price fluctuations. In this case, consumers will purchase the same amount no matter the price.
If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?
it is perfectly inelastic
When the price of a good will cause total revenue to fall if price elasticity of demand is elastic or inelastic?
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
If the elasticity greater than 1 is demand elastic or inelastic?
If the elasticity is greater than 1, demand is considered elastic. This means that consumers are relatively responsive to changes in price; a small change in price leads to a proportionally larger change in the quantity demanded. Conversely, if the elasticity is less than 1, demand is inelastic, indicating that consumers are less responsive to price changes.
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
If the elasticity is greater than 1 is demand elastic or inelastic If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?
If the elasticity is greater than 1, demand is considered elastic, meaning that consumers are highly responsive to price changes. Conversely, if the elasticity equals 0, demand is perfectly inelastic, indicating that quantity demanded does not change regardless of price fluctuations. In this case, consumers will purchase the same amount no matter the price.
If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?
it is perfectly inelastic
What are the types of price elasticity of demand?
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
When the price of a good will cause total revenue to fall if price elasticity of demand is elastic or inelastic?
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
When a firm's marginal revenue is zero what can be said about the elasticity of demand for the output of the firm A. Demand is inelastic. B. Demand is elastic. C. Demand is unit elastic.?
Demand is unit elastic.
If the elasticity greater than 1 is demand elastic or inelastic?
If the elasticity is greater than 1, demand is considered elastic. This means that consumers are relatively responsive to changes in price; a small change in price leads to a proportionally larger change in the quantity demanded. Conversely, if the elasticity is less than 1, demand is inelastic, indicating that consumers are less responsive to price changes.
Is coal elastic or inelastic?
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Difference between elastic and inelastic demand?
difference between elastic and inelastic demand
Explain what is meant by Price Elasticity of Demand?
there are broadly classified into five types 1. Perfect price elasticity of demand 2. Perfect price in-elasticity of demand 3. Relative price elasticity of demand 4. Relative price in-elasticity of demand 5. Unity price elasticity of demand
Is the demand for insulin elastic or inelastic?
The demand for insulin is considered inelastic, meaning that changes in price do not significantly affect the quantity demanded.
