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Values that indicate elastic demand

Updated: 12/17/2022
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Q: Values that indicate elastic demand
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True or False the steeper the demand curve the less elastic the demand curve?

It is false that the steeper the demand curve the less elastic the demand curve. The steeper line is used in economics to indicate the inelastic demand curve.


What do positive and negative cross elasticity indicate?

the demand for good A and the demand for good B are both price elastic


Demand and its types?

Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.


When demand is elastic?

The demand is elastic when the price is low. So people will buy more good so that it's demand will become more elastic. Moreover ,the demand is elastic when there are some new inventions.


When a firm's marginal revenue is zero what can be said about the elasticity of demand for the output of the firm A. Demand is inelastic. B. Demand is elastic. C. Demand is unit elastic.?

Demand is unit elastic.


Is fruit elastic or inelastic demand?

elastic


Difference between elastic and inelastic demand?

difference between elastic and inelastic demand


Different degrees of elasticity of demand?

Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.


What are the types of price elasticity of demand?

there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand


Demand for wine is elastic or inelastic?

Highly elastic.


How is elastic demand represent graphically?

A perfectly elastic demand is represented on the traditional supply and demand graph with a straight horizontal line. An elastic demand that is not perfect would be represented as any line with a slope between 0 and -1.


When demand is perfectly elastic what happens to marginal revenue?

When Demand is perfectly elastic, Marginal Revenue is identical with price.