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Give an example where there is perfectly elastic demand i.e elasticity infinity?
life
What is the definition of perfectly elastic supply?
The definition of perfectly elastic supply is a supply that can change along with the demand. This means if paper for example is not demanded in large quantities and then all of the sudden is there will be enough paper to supply the demand.
Distinguish between elastic and inelastic demand?
An example of perfectly inelastic demand would be a life-saving drug that people will pay any price to obtain. Elastic demand is the opposite of this.
What are example of product with perfectly elastic and perfectly inelastic supply?
Elasticity of supply describes how a product's quantity affects its price. Milk, for example, has an elastic supply - the quantity goes up and the price goes down. Or, as the quantity is limited, the price goes up. Inelastic supply implies that availability does not affect price, such as with airplane flight tickets.
What is an example of a product which has a perfectly elastic demand?
One example is money. When one charges any value more than the face value of a piece of currency, the revenue drops to zero, because the value of the money given up by the consumer is larger than the value obtained. This means that no one would by your product, thus bringing revenue to zero. --> money is the example for highly elastic demand, isn't it?
Give an example where there is perfectly elastic demand i.e elasticity infinity?
life
What is the definition of perfectly elastic supply?
The definition of perfectly elastic supply is a supply that can change along with the demand. This means if paper for example is not demanded in large quantities and then all of the sudden is there will be enough paper to supply the demand.
What is an example of a super-elastic collision?
A super-elastic collision occurs when the kinetic energy after the collision is greater than the kinetic energy before the collision. An example is two perfectly elastic balls colliding in space with no external forces acting on them.
What is the definition of perfectly elastic demand?
A perfectly elastic demand is one whos demand curve is a perfectly horizontal line. This means that at the same price for the item, the consumer is willing to buy more and more even at that same price.
Distinguish between elastic and inelastic demand?
An example of perfectly inelastic demand would be a life-saving drug that people will pay any price to obtain. Elastic demand is the opposite of this.
What are example of product with perfectly elastic and perfectly inelastic supply?
Elasticity of supply describes how a product's quantity affects its price. Milk, for example, has an elastic supply - the quantity goes up and the price goes down. Or, as the quantity is limited, the price goes up. Inelastic supply implies that availability does not affect price, such as with airplane flight tickets.
What are some example problems that demonstrate the concept of elastic collisions?
Some example problems that demonstrate the concept of elastic collisions include two billiard balls colliding without losing any kinetic energy, or two cars colliding and bouncing off each other without any deformation or loss of energy. These scenarios illustrate how momentum and kinetic energy are conserved in elastic collisions.
What solid is elastic?
Lots of solids are elastic. Steel, for example. Another one is "elastic".
What definition for example?
An example is a specific instance or illustration used to clarify or support a concept, idea, or principle. It demonstrates how something works or is applied in a real-world context, making it easier for others to understand. For instance, if discussing the concept of kindness, an example might be helping a neighbor with groceries.
Elastic body with a suitable example?
An elastic body is a material that can undergo deformation when a force is applied to it and return to its original shape once the force is removed. A common example of an elastic body is a rubber band. When stretched, a rubber band deforms to a longer length but will return to its original shape and size once the stretching force is released.
What are some examples of elastic collision practice problems that can help improve understanding of the concept?
One example of an elastic collision practice problem is two billiard balls colliding on a frictionless table. Another example is two cars colliding head-on and bouncing off each other without losing any kinetic energy. These types of problems can help improve understanding of the concept of elastic collisions by applying the principles of conservation of momentum and kinetic energy.
What is an example of a product which has a perfectly elastic demand?
One example is money. When one charges any value more than the face value of a piece of currency, the revenue drops to zero, because the value of the money given up by the consumer is larger than the value obtained. This means that no one would by your product, thus bringing revenue to zero. --> money is the example for highly elastic demand, isn't it?
