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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.)

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If a demand for a product is elastic the value of the price elasticity coefficient is?

greater than one


What is the different between Perfectly inelastic supply and inelastic supply?

Perfectly elastic supply curve: The supply of a commodity will be perfectly elastic when its price remain constant but supply changes to any extent.The supply curve will be parallel to x axis.The numerical value of elasticity of supply will be infinity. Perfectly inelastic supply curve: The supply of a commodity will be perfectly inelastic when its supply remain constant but price changes to any extent.The supply curve will be parallel to y axis.The numerical value of elasticity of supply will be zero.


What is an example of a product which has a perfectly elastic demand?

One example is money. When one charges any value more than the face value of a piece of currency, the revenue drops to zero, because the value of the money given up by the consumer is larger than the value obtained. This means that no one would by your product, thus bringing revenue to zero. --> money is the example for highly elastic demand, isn't it?


Rise in gini coefficient leads to?

The Gini coefficient is a measure of equality expressed as a value between 1 and 0. 0 represents perfect equality and 1 represents perfect inequality. Therefore a rise in the Gini coefficient results in an increase in inequality.


What happens when the value is greater than one in elasticity?

it means that price is elastic. Price elastic means that a little change in the price will cause a substantial change in the quantity demanded.

Related Questions

What is the value of coefficient of restitution for the perfectly plastic body?

the coefficient of restitution for the perfectly plastic body is zero(0). the coefficient of restitution for the perfectly elastic body is one(1).


What is coefficient of restitution?

The coefficient of restitution is a measure of how much kinetic energy is retained after a collision between two objects. It is a value between 0 and 1, where 1 represents a perfectly elastic collision (no energy loss) and 0 represents a perfectly inelastic collision (all energy is lost).


Why the value of coefficient of restitution of a perfectly plastic impact is 0?

Physicists distinguish between elastic and inelastic (and partially elastic) collisions. If you mean "elastic", the coefficient of restitution is 1. If you mean "inelastic", the coefficient of restitution is 0.Why? Because that's how "elastic" and "inelastic" collisions are DEFINED. If all the kinetic energy is maintained, the coefficient (relative speed after collision, divided by relative speed before the collision) is 1 - i.e., no movement is lost. If it is zero, all the movement energy (relative speed) is lost.


What is the value of coefficient of restitution for inelastic collision?

The coefficient of restitution for an inelastic collision is typically between 0 and 1, where 0 represents a perfectly inelastic collision (objects stick together after colliding) and 1 represents a perfectly elastic collision (objects bounce off each other without any loss of kinetic energy). In an inelastic collision, the kinetic energy is not conserved and part of it is transformed into other forms of energy, such as heat or sound.


On what parameters do the coefficient of restitution depend?

The coefficient of restitution depends on several parameters, including the materials involved in the collision, their surface properties, and the conditions of the impact, such as speed and angle. It reflects the elasticity of the collision, where elastic collisions have a coefficient of 1 (maximum energy conservation) and inelastic collisions have a coefficient less than 1. Additionally, temperature and the presence of any external forces can also influence the value of the coefficient.


If a demand for a product is elastic the value of the price elasticity coefficient is?

greater than one


How can one determine the coefficient of restitution in a physics experiment?

To determine the coefficient of restitution in a physics experiment, one can measure the initial and final velocities of an object before and after a collision. The coefficient of restitution is calculated by dividing the relative velocity of separation by the relative velocity of approach. This value represents the ratio of the final velocity of separation to the initial velocity of approach, providing insight into the elasticity of the collision.


What is the different between Perfectly inelastic supply and inelastic supply?

Perfectly elastic supply curve: The supply of a commodity will be perfectly elastic when its price remain constant but supply changes to any extent.The supply curve will be parallel to x axis.The numerical value of elasticity of supply will be infinity. Perfectly inelastic supply curve: The supply of a commodity will be perfectly inelastic when its supply remain constant but price changes to any extent.The supply curve will be parallel to y axis.The numerical value of elasticity of supply will be zero.


What is the Coefficient of Restitution of bouncing a basketball?

The Coefficient of Restitution (COR) for a bouncing basketball typically ranges from about 0.6 to 0.75. This value measures the ratio of the velocity of separation to the velocity of approach between the basketball and the surface it bounces on. A higher COR indicates that the ball retains more energy during the bounce, resulting in a higher rebound height. Factors such as the ball's material, inflation level, and the surface it bounces on can affect the COR.


In a civil case of conversion, can you request restitution for the value of the wrongfully converted property"?

Yes, in a civil case of conversion, you can request restitution for the value of the wrongfully converted property.


What is the coefficient of a term that consists of a single variable?

The numerical value that comes before the variable or, if none, the coefficient is 1.The numerical value that comes before the variable or, if none, the coefficient is 1.The numerical value that comes before the variable or, if none, the coefficient is 1.The numerical value that comes before the variable or, if none, the coefficient is 1.


What is an example of a product which has a perfectly elastic demand?

One example is money. When one charges any value more than the face value of a piece of currency, the revenue drops to zero, because the value of the money given up by the consumer is larger than the value obtained. This means that no one would by your product, thus bringing revenue to zero. --> money is the example for highly elastic demand, isn't it?