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Steeper supply curve is more likely to be price elastic or price inelastic?
Wiki User
∙ 11y ago
Price inelastic
Wiki User
∙ 11y ago
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Is supply for bar soap inelastic or elastic?
is soap elastic or inelastic supply
When does supply curve look like a demand curve?
When supply and demand are perfectly elastic/inelastic
Does supply curves tend to be more elastic in the long run or inelastic?
yes
What is the The key factor that determines whether the supply of a good will be elastic or inelastic?
Time
The key factor that determines whether the supply of a good will be elastic or inelastic is .?
time
Is supply for bar soap inelastic or elastic?
is soap elastic or inelastic supply
What happen in the supply and demand regarding land?
Supply is inelastic and demand is elastic for land.
When does supply curve look like a demand curve?
When supply and demand are perfectly elastic/inelastic
Does supply curves tend to be more elastic in the long run or inelastic?
yes
What is the The key factor that determines whether the supply of a good will be elastic or inelastic?
Time
The key factor that determines whether the supply of a good will be elastic or inelastic is .?
time
What is the different between Perfectly inelastic supply and inelastic supply?
Perfectly elastic supply curve: The supply of a commodity will be perfectly elastic when its price remain constant but supply changes to any extent.The supply curve will be parallel to x axis.The numerical value of elasticity of supply will be infinity. Perfectly inelastic supply curve: The supply of a commodity will be perfectly inelastic when its supply remain constant but price changes to any extent.The supply curve will be parallel to y axis.The numerical value of elasticity of supply will be zero.
Is furniture an elastic or inelastic commodity?
It is elastic because there is not a lot of supply in genuine antique furniture to keep up with rising prices.
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
In order for a price decrease to increase revenue which of the following must be true A. Demand must be elastic B. Demand must be inelastic. C. Demand must be unit elastic D. Supply must be inelastic?
A)
What commodities have the most inelastic supply?
In the short run, most commodities have inelastic supply curves. In the long run, with increased investment, supply could become more elastic. I would hazard a guess that the radio - active isotopes used for nuclear fuel such as Uranium-235 have the most inelastic supply.
When tax is imposed on motels or hotels and demand were slightly elastic and supply inelastic who would be stuck with the tax burden?
.com when tax is imposed on motels or hotels and demand were slightly elastic and supply inelastic,the tax burden would strike on the consumer who suffers what ever outcome.
