0
How can government benefit from the elasticity concepts? Analyse the various economic policies which will benefit from the concept.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Price elasticity importance to individual firm and government?
Price elasticity has a lot to do with how firms and governments can predict costs and profits. The greater the elasticity, the more uncertain their financial projections will be.
What does unitary demand mean?
Unitary is a reference to the type of demand elasticity. Unitary demand elasticity occurs when the elasticity of demand = 1. This indicates that the level of demand changes in-sync with the price at a 1:1 ratio.
Who benefits or loses from a low elasticity of demand for labor?
The low elasticity of demand for labor decreases with unemployment benefit. Generally low pay workers prefer that the minimum wage rate be increased until the labor demand is unitary elastic.
What are different types of elasticity?
The elasticity of demand refers to how sensitive the demand for a good is to changes in other economic variables. The different types are: price elasticity, income elasticity, cross elasticity and advertisement elasticity.
What are the 3 types of elasticity?
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
What are the significance of elasticity to the government?
The government policies and procedures are often very rigid and there is no scope to change plans as the situation or the time demands.The government is accountable to the people for its action and elasticity will give the government better adjustments and governance.Controlled elasticity is better than free elasticity to the government.
Demonstrate the Relationship between elasticity and totoal revenue?
how government use the elasticity concept to genrate revenue
Price elasticity importance to individual firm and government?
Price elasticity has a lot to do with how firms and governments can predict costs and profits. The greater the elasticity, the more uncertain their financial projections will be.
What are the benefits of offsite disaster recovery?
There are many benefits from the information technology offsite disaster recovery. The most notable benefits of offsite disaster recovery are it's cost-effective and scalability and elasticity.
Is the widow of a late national guardsman entitled to any government benefits?
Perhaps state benefits but not government benefits
What does unitary demand mean?
Unitary is a reference to the type of demand elasticity. Unitary demand elasticity occurs when the elasticity of demand = 1. This indicates that the level of demand changes in-sync with the price at a 1:1 ratio.
What are some benefits of Romania's government?
any benefits
Who benefits or loses from a low elasticity of demand for labor?
The low elasticity of demand for labor decreases with unemployment benefit. Generally low pay workers prefer that the minimum wage rate be increased until the labor demand is unitary elastic.
In economics what are the types of elasticity?
price elasticity income elasticity cross elasticity promotional elasticity
What are different types of elasticity?
The elasticity of demand refers to how sensitive the demand for a good is to changes in other economic variables. The different types are: price elasticity, income elasticity, cross elasticity and advertisement elasticity.
What is the properties of matter of elasticity?
elasticity
What items have elasticity?
Gum has elasticity.
