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The demand for orange is more elastic than for toothpaste but the price of orange fluctuates more than the price of toothpaste why?
Wiki User
∙ 15y ago
In laymans terms it is because Oranges are a crop that is dependant on the weather. A heavy frost can wipe out orange production causing supply to be lower than demand thus driving the price of oranges and orange products up. Toothpaste is a manufactured item that is not dependant on good weather and therefore supply can remain constant to keep up with demand.
Wiki User
∙ 15y ago
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If because a modest price increase has little or no effect the demand for the product is?
If a modest price increase has little no no effect on the demand it means that the product is inelastic. Inelastic goods are those that people will need no matter what the price is, such as most medications, and food as a whole (not specific brands). Elastic goods are defined as goods were the demand fluctuates as the price fluctuates. These are different brands of foods (If Dole starts to charge more for apple juice consumers will switch to Tropicana orange juice.)
Which is more elastic milk or orange juice and why?
Orange juice is much more elastic than milk. First of all, it represents an insignificant part of the consumer's budget Secondly, it has a lot of close substitutes (IE. mango juice, etc.) On the contrary, there is no single substitute for milk, unless you want to dip cookies in orange juice, or cereal with mango juice.
What are the importance of elasticity?
In economic terms, an elastic demand is one that will vary with price, so the consumer might enjoy consuming this particular product but only if the price seems reasonable. There could be alternative products that are quite acceptable. If you like grapefruit juice but it becomes very expensive, you may wish to buy orange juice instead. If grapefruit and orange juice are both very expensive, you might wish to drink cranberry juice instead. So elasticity of demand creates a limit on what can be charged for a product. In comparison, some products have a relatively inelastic demand. People will continue to buy gasoline for their cars, almost regardless of what it costs. The alternative is to buy an electric car, which is enormously expensive. So gasoline prices can get very high.
What is the opposite of a substitute good?
A complementary good. Substitute and complementary goods are determined by cross elasticity of demands. A substitute good has positive cross elasticity: the mercantile characteristics of this good increase if the same characteristic of a different good decreases. If the only two drinks in the world were orange juice and apple juice and the price of orange juice went up (causing concomitant reduction in demand for it), the demand for apple juice would increase. A complementary good has negative cross elasticity: the mercantile characteristics increase if the same characteristic of the complementary good also increases. Maybe if the demand for salami increased the demand for bread would also increase because most people who buy salami eat it on sandwiches. Obviously these are both classroom theoreticals because a lot of things go into determining demand for an item...the demand for salami could increase without a concomitant increase in demand for bread because people have found salami makes a great salad ingredient, or the demand for peanut butter could increase without a similar increase in jelly demand if everyone makes peanut butter cookies.
Is a orange a cash crop?
yes
If because a modest price increase has little or no effect the demand for the product is?
If a modest price increase has little no no effect on the demand it means that the product is inelastic. Inelastic goods are those that people will need no matter what the price is, such as most medications, and food as a whole (not specific brands). Elastic goods are defined as goods were the demand fluctuates as the price fluctuates. These are different brands of foods (If Dole starts to charge more for apple juice consumers will switch to Tropicana orange juice.)
What colour indicator is toothpaste in methyl orange?
Yellow because toothpaste is base
Can you grow magic mushrooms from toothpaste on an orange peel?
NO!
Is there any good names for toothpaste?
Cool Citrus, Orange Swirl, Outrageously Orange
Where can you get an elastic high waisted skirt in orange?
Old Navy
Can you trip off orange peel and toothpaste?
I doubt it, but we do not give answers on WikiAnswers about how to get high.
Which website sells orange flavored toothpaste?
CHECK OUT tomsofmaine.com They sell all natural, quality oral hygeine products, including an ORANGE/MANGO toothpaste. Many stores also carry Tom's of Maine dental products, especially health food stores.
Orange peels and toothpaste?
alls you gotta do is put that toothpaste on that sheet let it sit a few weeks scrape off the mold and blow you havd lsd and its the sheet have tripped many a time and believe me its insane so wiki fudge you you can get high on orange peels
Would eating AIM toothpaste pass a urine drug test?
If you drink it with lots of Orange juice
Which is more elastic milk or orange juice and why?
Orange juice is much more elastic than milk. First of all, it represents an insignificant part of the consumer's budget Secondly, it has a lot of close substitutes (IE. mango juice, etc.) On the contrary, there is no single substitute for milk, unless you want to dip cookies in orange juice, or cereal with mango juice.
What did the Romans demand from Jews in order for the Jews to worship freely?
They demanded orange juice.
Why does orange juice taste salty if you drink it after brushing your teeth?
orange juice taste salty after brushing your teeth since an ingredient in the toothpaste blocks our sweeet taste buds leaving us with an awful taste.
