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Examples of elastic products?
An elastic product is one that if the price goes up, people will stop buying it. Examples of elastic goods are vacations, DVD's and other material items.
What are the types of supply elasticity?
Types of elasticity of supply1) Perfectly elastic supply2) Relative elastic supply3) Unitary elastic supply4) Relatively in elastic supply5) Perfectly in elastic supply
What is the value of coefficient of restitution for the perfectly elastic body?
It is 1. A value of 0 is perfectly inelastic, but examples of objects where it is 1 are hard to come by. (eg. 2 electrons colliding.)
When demand is perfectly elastic what happens to marginal revenue?
When Demand is perfectly elastic, Marginal Revenue is identical with price.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Examples of elastic products?
An elastic product is one that if the price goes up, people will stop buying it. Examples of elastic goods are vacations, DVD's and other material items.
What are the types of supply elasticity?
Types of elasticity of supply1) Perfectly elastic supply2) Relative elastic supply3) Unitary elastic supply4) Relatively in elastic supply5) Perfectly in elastic supply
What is the value of coefficient of restitution for the perfectly elastic body?
It is 1. A value of 0 is perfectly inelastic, but examples of objects where it is 1 are hard to come by. (eg. 2 electrons colliding.)
When demand is perfectly elastic what happens to marginal revenue?
When Demand is perfectly elastic, Marginal Revenue is identical with price.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
What is the mathematical definition of perfectly elastic demand?
If ep = dQ/dP.P/Q = infinity, the demand is perfectly elastic.
Things made from elastic?
Clothing items like waistbands and leggings, hair ties, elastic bands, and elastic straps used in various products like bags and masks are examples of items made from elastic.
If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?
it is perfectly inelastic
What are examples of five products whose demand is price elastic and five products whose demand is price inelastic?
narcotics, food, gas
What good has a perfectly elastic market?
No good is perfectly elastic: if it were, any raise in price would cause exactly zero units of the good to be demanded, and any drop in price would cause infinite units of the good to be demanded, which is not possible. Some goods are very elastic, however, like goods with close substitutes (Pepsi and Coke are good examples).
What type of curve does the perfectly competitive firm face?
perfectly elastic demand function.
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
