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an elasticity of coefficient of -1 means what

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Why does the sign of the price elasticity coefficient become negative?

Well if that is... no ones knows But i do know that im awesome and jww is cool


How can one interpret regression output effectively?

To interpret regression output effectively, focus on the coefficients of the independent variables. These coefficients represent the impact of each variable on the dependent variable. A positive coefficient indicates a positive relationship, while a negative coefficient indicates a negative relationship. Additionally, pay attention to the p-values to determine the statistical significance of the coefficients.


Are two goods complements if the cross-elasticity coefficient is negative?

Cross Elasticity Coefficient is defined as when the price of a particular commodity rises how is the demand of another commodity changing. If the goods are complements like say for example petrol and petrol driven cars, if there is a price hike in petrol then demand for petrol cars would fall. Hence a negative cross elasticity of coefficient. On the other hand the demand for deisel cars would rise (given the deisel prices are constant) because they serve as substitutes, and will have a positive cross elasticity.


Where is a coefficient located?

A coefficient is the number in front of a variable. For example, consider the expression '2y' y is the variable 2 is the coefficient


What does it mean if the price elasticity of demand is 2?

It's an elasticity coefficient of demand: deltaD/deltaP When the coefficient is >1 it is an elastic demand When the coefficient is <1 it is a nonelastic demand

Related Questions

Can a coefficient of a variable be negative?

Yes, a coefficient of a variable can be negative.


Is it possible for a coefficient of variation to be negative?

Of course it is! If the mean of a set of data is negative, then the coefficient of variation will be negative.


Is it possible for a coefficient of variation to be negative Explain.?

Of course it is! If the mean of a set of data is negative, then the coefficient of variation will be negative.


Does a safe reactor have a positive or negative 'temperature coefficient of reactivity'?

negative 'temperature coefficient of reactivity'


Why value of hall coefficient is negative?

The Hall coefficient has the same sign as the charge carrier. The charge carrier in a normal electric current, the electron, is negative, and as a result the Hall coefficient is negative.


What is the meaning of negative coefficient of x?

In the form y=mx+b, b is the y-intercept and m is the coefficient, so if an equation has a negative coefficient, m<0. As a graph, the slope of the line is negative.


What is the Tempetature coefficient of an extrinsic semiconductor?

negative


In which situation would you most likely factor out -1 from a trinomial?

If the coefficient of the highest power of a variable of interest is negative.


What type tempcoefficient does the zener diode have?

negative tempareture It depends on the reverse voltage. Up to about 5.6 volts, the zener has a negative temperature coefficient. Beyond 5.6 volts it begins to show a positive temperature coefficient.


Fullform of ntc and ptc?

ntc: negative temperature coefficient ptc: positive temperature coefficient


If the r-value or correlation coefficient of a data set is negative the coefficient of determination is negative?

The coefficient of determination, denoted as (R^2), is always a non-negative value, regardless of whether the correlation coefficient (r-value) is negative or positive. The value of (R^2) indicates the proportion of the variance in the dependent variable that can be explained by the independent variable(s). While a negative r-value signifies an inverse relationship between the variables, (R^2) will still be a positive number, ranging from 0 to 1. Thus, a negative r-value does not imply a negative coefficient of determination.


What is the difference between positive and negative temperature coefficient of resistance?

Negative temperature coefficient of resistance means that as the temperature of a piece of wire or a strip of semiconducting material increases, the electrical resistance of that material decreases.