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Ppl give up eating pasta and breadbc they want to lose weight - apex :)
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Which of the following accuratly describes a situation in which consumers have elastic demand?
People give up eating pasta and bread because they want to lose weight
What describe a situation in which consumers have elastic demand?
Ppl give up eating pasta and breadbc they want to lose weight - apex :)
What goods or services might a tax increase be hardest to pass on to consumers?
a product with elastic demand
Demand for good is likely to be more elastic the smaller the fraction of consumer incomes absorrbedby to good?
Demand for a good tends to be more elastic when the good represents a smaller fraction of consumer incomes because consumers are more sensitive to price changes for goods that do not significantly impact their overall budget. When a good is inexpensive relative to income, consumers can easily substitute it with alternatives or forego it without substantial consequences to their financial situation. Conversely, for goods that consume a larger share of income, consumers are less responsive to price changes, leading to inelastic demand.
What is the difference between price elastic and unit elastic?
Unit elastic - Describes a supply or demand curve which is perfectly responsive to changes in price. That is, the quantity supplied or demanded changes according to the same percentage as the change in price. A curve with an elasticity of 1 is unit elastic.
Which of the following accuratly describes a situation in which consumers have elastic demand?
People give up eating pasta and bread because they want to lose weight
What describe a situation in which consumers have elastic demand?
Ppl give up eating pasta and breadbc they want to lose weight - apex :)
What describes collisions in which there is no energy loss?
Elastic collisions do not lose energy.
What Connective tissue fibers forming a branching interwoven framework that is tough but flexible describes what fibers?
Elastic Fibers
What goods or services might a tax increase be hardest to pass on to consumers?
a product with elastic demand
What term describes traction by use of strapping elastic wraps or tape?
Skin
What word best describes the property of the elastic modulus of a material?
stiffness id say
What is the difference between price elastic and unit elastic?
Unit elastic - Describes a supply or demand curve which is perfectly responsive to changes in price. That is, the quantity supplied or demanded changes according to the same percentage as the change in price. A curve with an elasticity of 1 is unit elastic.
What is elastic supply?
the situation that exists when quantity supplied changes greatly in response to a change of price.
Which term best describes energy stored within a stretched object?
Elastic potential energy.
How does demand tend to be more elastic in the short run than in the long run?
In the short run, consumers have fewer options to adjust their purchasing behavior, making demand more sensitive to price changes. In the long run, consumers have more time to find substitutes or adjust their budgets, making demand less elastic.
What happens in the case of a product that has elastic supply when the price decreases?
Consumers switch to other goods. Prices will probably rise, but nobody will buy the good (because it is elastic), so eventually they will fall again.
