answersLogoWhite

0

What else can I help you with?

Continue Learning about Economics
Related Questions

Which factor does not affect the elasticity of demand for a good?

An increase in population


What factor does not affect the elasticity of demand for a good?

Increase in the population.


What are the types of elastricity of demand?

Oh, dude, there are like three types of elasticity of demand. You've got price elasticity of demand, income elasticity of demand, and cross elasticity of demand. Price elasticity is all about how price changes affect quantity demanded, income elasticity looks at how changes in income impact demand, and cross elasticity measures how the demand for one good changes in response to a change in the price of another good. So, yeah, those are the types, but like, who really needs to know all that, right?


Factors influencing the price elasticity of demand?

Very good answer here: http://tutor2u.net/economics/content/topics/elasticity/elastic.htm


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.


How is the price elasticity of demand measured and what factors are considered in determining it?

The price elasticity of demand is measured by calculating the percentage change in quantity demanded in response to a percentage change in price. Factors considered in determining price elasticity of demand include the availability of substitutes, necessity of the good, and time period for adjustment.


What are some common questions about elasticity that are frequently asked in economics?

Some common questions about elasticity in economics include: How does price elasticity of demand affect consumer behavior? What factors influence the elasticity of supply for a particular good or service? How does income elasticity of demand impact the overall economy? What is the relationship between cross-price elasticity and substitute or complementary goods? How can elasticity be used to predict market trends and make pricing decisions?


What are 5 factors that affect the demand of fast moving consumer good?

The 5 factors that affect the demand of fast moving consumer good include the price, quality, availability, competition and the use of the products. There are many other factors that affect the demand for such commodities


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 difference between income elasticity demand and price elasticity demand?

price elasticity is the degree to which demand for a good will change relative to a change in the price of that good. Income elasticity is the degree to which demand for a good will change relative to a change in the spending power of the consumer. it is the percentage change in quantity demanded/percentage change in price.


How does the price range affect the elasticity of demand for a product?

Demand for a good can be elastic at a low price but inelastic at a high price. YouRE VERY WULCOM novanet ANSWER =)


How does the price range affect the elasticity of demand for the product?

Demand for a good can be elastic at a low price but inelastic at a high price. YouRE VERY WULCOM novanet ANSWER =)