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What are the economic implications of elasticity of demand measures to an economic agent?
Wiki User
∙ 9y ago
The economic implications of elasticity for demand measure of an economic agent are positive. Elasticity helps measure the response of one economic variable when there is change seen in another variable. Economic agents use elasticity as a way to understand the impact of economic action that has been undertaken.
Wiki User
∙ 9y ago
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What are the implications of a unit elasticity of demand?
Dic-tionary
Cross elasticity of demand?
In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.
Meaning of elasticity?
It measures the sensitivity of one variable with respect to another, e.g. own price elasticity of demand measures the sensitivity of demand for a commodity with respect to its own price.
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.
The price elasticity of demand measures the responsiveness of quantity demanded to a change in price?
true
What are the implications of a unit elasticity of demand?
Dic-tionary
Cross elasticity of demand?
In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.
What are the implications of the price elasticity of demand?
ambot nangutana gane ko
What is cross price elasticity demand?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
Meaning of elasticity?
It measures the sensitivity of one variable with respect to another, e.g. own price elasticity of demand measures the sensitivity of demand for a commodity with respect to its own price.
What is cross price elasticity?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
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.
After computing a elasticity demand and it result was negative what does it implies in economic?
The price elasticity of demand should be negative. This is because the relationship between demand and price, according to the law of demand, is negative.
The price elasticity of demand measures the responsiveness of quantity demanded to a change in price?
true
The price elasticity of demand measures the responsiveness of quantity demanded of a good to its price?
4.345
If a good is inferior in an economic sense income elasticity will?
demand rice elastic
What is cross elastic?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
