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The measure of the way quantity supplied reacts to change in price is?
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∙ 7y ago
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
Jadyn Sporer
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What is a measure of the way quantity supplied reacts to a change in price?
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
What is The measure of the way quantity supplied reacts to a change in price?
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
What will cause a change in equilibrium price?
The equilibrium once disturbed by a price change, reacts based on which direction the price was changed. Higher prices reduce demand and increase supply, while lower prices increase demand and lower supply.
Why is elasticity important?
Because it shows how the market reacts to the change in price. therefore, companies would have to look at elasticity before they change their price. Governments also look at elasticity when changing tax rate to get the highest tax revenue possible.
Is diamond an inelastic product?
In terms of economics, from the Economics Basics Web site:"The degree to which a demand or supply curve reacts to a change in price is the curve's elasticity. Elasticity varies among products because some products may be more essential to the consumer. Products that are necessities are more insensitive to price changes because consumers would continue buying these products despite price increases. Conversely, a price increase of a good or service that is considered less of a necessity will deter more consumers because the opportunity cost of buying the product will become too high."Under this definition, diamonds are not a necessity, and the quantity available for sale remains fairly constant, so they can be described as an inelastic product.
What is a measure of the way quantity supplied reacts to a change in price?
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
What is the measure of the way quantity supplied reacts to change in price?
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
What is The measure of the way quantity supplied reacts to a change in price?
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
How easily an element reacts with other elements is a measure of its what?
Measure of its chemical reactivity.
Is strontium reacts with water a chemical or physical change?
When something reacts, that is a chemical reaction. Chemical change.
Why happen when water react with sodium metal?
It forms NaOH... And its reacts with explosion. .depends on quantity of Na
What is the measure of how a transistor reacts to changes in temperature?
The thermal voltage.
Is reacts with air a chemical or physical change?
It is a chemical change.
If strontium reacts with water is it chemical or physical change?
Strontium reacts with water producing strontium hydroxide and hydrogen gas. This is a chemical change.
What is a substance that reacts in a chemical change?
products
How in organism reacts to change in its environment?
STIMULUS (:
How easily a element reacts with other elements is a measure of its?
Chemical activity
