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How can a firm make their product inelastic?
A demand inelastic good (as opposed to a supply inelastic good) is a good that is essential to the well-being of individuals in the market. So certain staple food, such as maize, wheat, etc. are inelastic because they are a life requirement (these would be about as close to perfectly inelastic as you could get). In order for a firm to make their product inelastic they would benefit from making their product unique, or making it seem unique to the consumer, this is called 'branding' and or 'product differentiation'. The actual product doesn't have to be entirely unique, but should have a unique feature. The producer may differ themselves from the rest in some significant way (donating to charity, sponsoring events, employing locals etc.). Either make the good (or a particular unique feature of it) somewhat of a necessity for the consumer to have, or play on emotions; either way the brand loyalty among consumers will increase. There are also methods concerning 'predatory pricing' and 'exclusive dealings', however these would require the firm in question to be established as they involve eliminating substitutes for the product.
How would you describe the factors of production?
THE FACTORS OF PRODUCTION _________________________ ---------------------------------------- ---------------------------------------- Labor - This is the work required to make the product. _____________________________________________________________ Resources - Materials that make the product. _____________________________________________________________ Entrepreneurs - People who start a new business or bring a new product to market. _____________________________________________________________ Land - The property used to make the product. _____________________________________________________________ Capital - The tools and equipment used to make the product. _____________________________________________________________ ~Anonymous~ ! Hope this is what you were looking for ! ~Anonymous~ -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
What are three questions that all economic systems must answer?
The three questions are what to make, how to make it, and who gets the product/service.
Using factors of production to make one product always means that?
fewer resources are left to make something eles
How Using the factors of production to make one product always means that?
fewer resources are left tp make something else.
How can a firm make their product inelastic?
A demand inelastic good (as opposed to a supply inelastic good) is a good that is essential to the well-being of individuals in the market. So certain staple food, such as maize, wheat, etc. are inelastic because they are a life requirement (these would be about as close to perfectly inelastic as you could get). In order for a firm to make their product inelastic they would benefit from making their product unique, or making it seem unique to the consumer, this is called 'branding' and or 'product differentiation'. The actual product doesn't have to be entirely unique, but should have a unique feature. The producer may differ themselves from the rest in some significant way (donating to charity, sponsoring events, employing locals etc.). Either make the good (or a particular unique feature of it) somewhat of a necessity for the consumer to have, or play on emotions; either way the brand loyalty among consumers will increase. There are also methods concerning 'predatory pricing' and 'exclusive dealings', however these would require the firm in question to be established as they involve eliminating substitutes for the product.
Which three prime numbers are multiplied to make 429?
As a product of its prime factors: 429 = 3*11*13
What does product mean in math wise?
The product is the answer you get when you multiply two numbers. The two numbers are called factors. The number the factors make when you multiply them is called the product
What factors make up the product 32?
1,2,4,8,16,32
Which three prime numbers multiply together to make 54?
As a product of its prime factors: 2*3*3*3 = 54 or as 2*33 = 54
How would you describe the factors of production?
THE FACTORS OF PRODUCTION _________________________ ---------------------------------------- ---------------------------------------- Labor - This is the work required to make the product. _____________________________________________________________ Resources - Materials that make the product. _____________________________________________________________ Entrepreneurs - People who start a new business or bring a new product to market. _____________________________________________________________ Land - The property used to make the product. _____________________________________________________________ Capital - The tools and equipment used to make the product. _____________________________________________________________ ~Anonymous~ ! Hope this is what you were looking for ! ~Anonymous~ -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
What is the sign of the product of two factors that are negative?
two negative factors together would make a positive.
What is the product of the factors of 6?
6's factors are 3 and 2. They multiply together to make 6.
What does factor in a product mean?
Here is a example: Here is a example: The product is 72. The product is 36. You need factors to make the 72. The factors are 6, 4, and 9. The factors are 8 and 9. You just have to find out what makes the number. Good luck!
Is the product of all this factors equals to 6?
The question might make some sense if "all this factors" were defined.
What are all ways to multiply with 2 factors to make the product of 144?
1x144,2x72
What are the numbers called in multiplication?
Two factors are multiplied to make a product.
