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Demand and cost are inversely related, i.e., as the cost goes up, the demand goes down, and as cost goes down, demand goes up. So any two cost-demand curves are are inversely related constitute a perfect elastic supply curve.
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When does supply curve look like a demand curve?
When supply and demand are perfectly elastic/inelastic
What is difference between individual supply curve and market supply curve?
The difference between individual supply curve and the market supply curve is tat individual supply curve is like a firm. To be able to get the market supply curve you have to have the individual supply curve.
Difference between firms's demand curve and industry demand curve in Perfect competition?
Regard the "move-up"s of the whole industry's demand curve as a "dynamic process" at different times. When it happens to intersect with supply curve under perfect competition, we get the equilibrium price and quantity. At this time, firms seem like find their best "time" in the "dynamic process". So during this "time", the price for firms is perfect elastic because neither consumers would buy the product at a higher price nor firms would sell the product at a lower price. To sum up, the difference is -- the firm has a horizontal demand curve while the industry has a down-slope one under perfect competition.
What do supply schedules and supply curves illustrate?
Supply schedual: price due to amount of productsSupply curve: price due to quality of productsI hope this helped, like 95% sure its correct lmao #tybg
Examples of price elasticity of supply?
some examples of elastic and inelastic supply are:elastic:Gasoline is a really good example. When gasoline prices dip, everyone drives in to fill up their tank. In this case, when price drops slightly, quantity purchased jumps drastically. Although people "need" gasoline, people will tend to treat it as an elastic product.inelastic:Products like Tobacco or Insulin. Although prices may increase for these products, customers will not hesitate to engage in a transaction. This is especially true with products like insulin which is literally a matter of life and death. The only reason why production companies like this don't increase prices of insulin is because of fear of government regulation.Note: the above answers are wrong. They are about elasticity of DEMAND, not SUPPLY like the question calls for. Goods with an elastic supply are those that require little capital, no hard-to-find resources, and no skilled labor force. The more of these items a good requires, the less elastic its supply will be.
When does supply curve look like a demand curve?
When supply and demand are perfectly elastic/inelastic
What is difference between individual supply curve and market supply curve?
The difference between individual supply curve and the market supply curve is tat individual supply curve is like a firm. To be able to get the market supply curve you have to have the individual supply curve.
Difference between firms's demand curve and industry demand curve in Perfect competition?
Regard the "move-up"s of the whole industry's demand curve as a "dynamic process" at different times. When it happens to intersect with supply curve under perfect competition, we get the equilibrium price and quantity. At this time, firms seem like find their best "time" in the "dynamic process". So during this "time", the price for firms is perfect elastic because neither consumers would buy the product at a higher price nor firms would sell the product at a lower price. To sum up, the difference is -- the firm has a horizontal demand curve while the industry has a down-slope one under perfect competition.
WHEN DOES A SUPPLY CURVE LOOK LIKE A DEMAND CURVE?
t
Does demand and supply curve looks like stair?
sometimes
What is difference between change in supply and change in quantity supplied?
a change in supply is the shift in supply curve due to change in price of other commodities and other factors like taste,weather,income e.t.c while a change in quantity supply is the change in price of the commodity itself that affect the quantity supply,here the supply curve remain constant but there will be a movement along the supply curve.
What do supply schedules and supply curves illustrate?
Supply schedual: price due to amount of productsSupply curve: price due to quality of productsI hope this helped, like 95% sure its correct lmao #tybg
Why is Elastic Clause called Elastic Clause?
It is called Elastic Clause because it can be stretched like elastic.
Examples of price elasticity of supply?
some examples of elastic and inelastic supply are:elastic:Gasoline is a really good example. When gasoline prices dip, everyone drives in to fill up their tank. In this case, when price drops slightly, quantity purchased jumps drastically. Although people "need" gasoline, people will tend to treat it as an elastic product.inelastic:Products like Tobacco or Insulin. Although prices may increase for these products, customers will not hesitate to engage in a transaction. This is especially true with products like insulin which is literally a matter of life and death. The only reason why production companies like this don't increase prices of insulin is because of fear of government regulation.Note: the above answers are wrong. They are about elasticity of DEMAND, not SUPPLY like the question calls for. Goods with an elastic supply are those that require little capital, no hard-to-find resources, and no skilled labor force. The more of these items a good requires, the less elastic its supply will be.
Where is the best place to buy plus size tutu's?
Have you tried Hot Topic? They have one size fit all. They like have elastic wastebands and fit everyone perfect.
What is wavy curve?
A curve that is wavy. Like a potato.
Why is the Graph of the Indifference Curve Shaped like lower curve?
yes
