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Why is it difficult to judge elasticity of demand or supply if you are merely observing the appearance of a demand or supply curve on a graph?
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
When is matter considered to be elastic?
Matter is considered to be elastic if it returns to its original shape after it is squeezed or stretched. -Alicia Wallace-
What factors contribute to the shape of a unit elastic demand curve for a product?
The shape of a unit elastic demand curve for a product is influenced by factors such as the availability of substitutes, the necessity of the product, and the proportion of income spent on the product.
What is the shape and behavior of the supply curve for a perfectly competitive firm in the short run?
The supply curve for a perfectly competitive firm in the short run is typically upward sloping and relatively elastic. This means that as the price of the good or service increases, the firm is willing and able to produce more of it. However, the firm's ability to adjust its output is limited by its fixed inputs in the short run.
What are examples of elastic materials?
All materials are elastic to a point. An elastic material is one that returns to its original size and shape when the load that is causing it to bend or stretch, is removed. At some point all materials will exceed their "elastic limit". Mild steel used for building structures is quite elastic if not over loaded. Rubber such as a rubber band is extremely elastic but it also has an elastic limit, and an ultimate strength. Glass is not very elastic and is considered brittle.
Can be stretched and then return to its own shape?
elastic
Can be stretched and then returns to its shape?
elastic
What goes back into its original shape after being stretched?
Elastic or Rubber
Elastic body with a suitable example?
An elastic body is a material that can undergo deformation when a force is applied to it and return to its original shape once the force is removed. A common example of an elastic body is a rubber band. When stretched, a rubber band deforms to a longer length but will return to its original shape and size once the stretching force is released.
Is sponge an elastic material?
No, sponge is not considered an elastic material. Elastic materials have the ability to return to their original shape after being stretched or compressed, while sponge will deform and retain its new shape.
What e is something that can be streched but goes back to its original shape?
Elastic is something that can be stretched but goes back to its original shape after.
Can be stretched then returns to its own shape?
elastic
What can be stretched and then returned in its own shape?
elastic
What e is something that can be stretche but goes back to its original shape?
Elastic can be stretched and then reverts back to its original shape.
What is the difference between elastic force and elastic potential energy?
Elastic force is the force exerted by a stretched or compressed elastic material to return to its original shape. Elastic potential energy is the energy stored in an elastic material when it is stretched or compressed. The elastic force is responsible for restoring the material to its original shape, converting the stored elastic potential energy back to kinetic energy.
The shape of the external ear is maintained by?
elastic cartilage
What is matter considered if it returns to its original shape?
elastic
