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Assuming increase a price of commodity X where x is an inferior good decompose the total effect of price change into substitution n income effect also derive the demand curve?
decompose total effect of price increase for an inferior good and giffen into substitution and income effect, in each case derive both the ordinary and compensated demand curve
What the price of good X rises the demand for good Y falls?
The mechanism is call "The Supply and Demand Curve"
Why does the demand curve have negative slope?
because quantity is on x axis and price is on y axis and as the price increase the demand decrease
The demand for good x will be more elastic than the demand for good y when?
consumers have more time to adjust to a change in the price of good x than they have time to adjust to a change in the price of good y
What is the cross elasticity of demand of demand of good Y forgood X?
The cross elasticity of demand measures how the quantity demanded of good Y responds to a change in the price of good X. It is calculated as the percentage change in the quantity demanded of good Y divided by the percentage change in the price of good X. A positive cross elasticity indicates that goods X and Y are substitutes, while a negative value suggests they are complements. If the elasticity is zero, it implies that the goods are unrelated.
Assuming increase a price of commodity X where x is an inferior good decompose the total effect of price change into substitution n income effect also derive the demand curve?
decompose total effect of price increase for an inferior good and giffen into substitution and income effect, in each case derive both the ordinary and compensated demand curve
What the price of good X rises the demand for good Y falls?
The mechanism is call "The Supply and Demand Curve"
Why does the demand curve have negative slope?
because quantity is on x axis and price is on y axis and as the price increase the demand decrease
1. The X-Corporation produces a good (called X) that is a normal good. Its competitor Y-Corporation makes a substitute good that it markets under the name and ldquoY and . Good Y is an inferior goo?
In this scenario, X is a normal good, meaning that its demand increases as consumer incomes rise, while good Y, being an inferior good, experiences increased demand when consumer incomes decline. As consumers' disposable incomes increase, they are likely to buy more of good X and less of good Y, since they will prefer the higher-quality normal good. Conversely, if incomes fall, consumers may shift their preference toward good Y, leading to an increase in its demand. The relationship between the two goods highlights the dynamics of consumer behavior in response to changes in income levels.
The demand for good x will be more elastic than the demand for good y when?
consumers have more time to adjust to a change in the price of good x than they have time to adjust to a change in the price of good y
What is the cross elasticity of demand of demand of good Y forgood X?
The cross elasticity of demand measures how the quantity demanded of good Y responds to a change in the price of good X. It is calculated as the percentage change in the quantity demanded of good Y divided by the percentage change in the price of good X. A positive cross elasticity indicates that goods X and Y are substitutes, while a negative value suggests they are complements. If the elasticity is zero, it implies that the goods are unrelated.
In the product 8 X 9 X 10 X 11 X 12 which factor should be increased by 1 to cause greatest increase in product?
The 8.
Why is the answer always the other number when you multiply by 1?
Because multiplying by 1 does not cause an increase. 1 x 1 = 1, 2 x 1 = 2
Which change would most likely cause soil layer X to increase in thickness?
An increase in deposition of sediments on top of soil layer X would most likely cause it to increase in thickness. This could result from increased erosion of nearby areas, deposition of material carried by water or wind, or human activities such as construction or mining that disturb the land surface.
Can dogs hear ducks?
yes cause they have good sentivive ears x
What is the importance of elasticity of demand and supply?
Elasticity of demand to firms are important because they represent the nature of the goods they are dealing in. For example if a firm produces goods with inelastic demand they will be able to earn high profits because even if they increase the price of the goods, since the change in demand will be less than the change in price. Also if there is a tax they will share less of the burden. This means they can keep prices high and not have to worry about a lot of things. However, if a firm were to produce goods with elastic demand, then they will have to make sure the price of the good remains low and if there is a tax they will be the ones who share the majority of the burden.
A demand curve which is parallel to the vertical axis is?
When the demand curve is horizontal to the x axis, it is said to be elastic and therefore more responsive to changes in price. When the demand curve is vertical, it is more inelastic and consumers will be more apt to purchase a good regardless of the price.
