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Luxury goods like Dom Perignon champagne tend to have demand curves?
Luxury goods like Dom Perignon champagne tend to have ______ demand curves.
What factors tend to make demand curves more price elastic?
Close substitutes, increased income, luxury goods, time. Addiction makes demand less elastic, (inelastic) ex. Cigarettes. As time increases more substitutes become available.
Does supply curves tend to be more elastic in the long run or inelastic?
yes
What does A perfect elastic supply curve look like?
Demand and cost are inversely related, i.e., as the cost goes up, the demand goes down, and as cost goes down, demand goes up. So any two cost-demand curves are are inversely related constitute a perfect elastic supply curve.
What shapes have curves?
What shape has curves
Luxury goods like Dom Perignon champagne tend to have demand curves?
Luxury goods like Dom Perignon champagne tend to have ______ demand curves.
What factors tend to make demand curves more price elastic?
Close substitutes, increased income, luxury goods, time. Addiction makes demand less elastic, (inelastic) ex. Cigarettes. As time increases more substitutes become available.
Does supply curves tend to be more elastic in the long run or inelastic?
yes
What are indeference curves?
Curves is monosyllabicPresumably no curves at all.3 curvesThoracic and sacral curves
How might you calculate elasticity of supply?
Elasticity of supply is the amount a price changes based on changes in supply. An elastic good's price will change as the price changes. If the good is inelastic, as the supply of the product changes, the price does not change. Inelastic curves are very straight up and down. Elastic curves are straight horizontally. Elasticity of supply is an important factor for business managers. Business managers want to know how the price they offer for their product will change based on how much they produce.
What does A perfect elastic supply curve look like?
Demand and cost are inversely related, i.e., as the cost goes up, the demand goes down, and as cost goes down, demand goes up. So any two cost-demand curves are are inversely related constitute a perfect elastic supply curve.
What are curves on a polygon?
Polygons do not have curves.
What shapes have curves?
What shape has curves
Why is there a need for highway curves?
for safety purpose and the curves are design for speed on which curves are provided.
How many spinal curves are there?
There are four curves in the spine. They are the Cervical, Thoracic, Lumbar and Pelvic curves.
What figures intersect but are not perpendicular?
Any lines or curves that are mutually skew.Any lines or curves that are mutually skew.Any lines or curves that are mutually skew.Any lines or curves that are mutually skew.
How many curves are there in a standard paperclip?
3 curves
