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Which products or services is supply likely to be inelastic in the short term whether prices rise or fall?
Wiki User
∙ 11y ago
- Cargo Ships
Wiki User
∙ 11y ago
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Steeper supply curve is more likely to be price elastic or price inelastic?
Price inelastic
Are pharmaceutical products elastic?
They are likely to be inelastic meaning the demand for the products will not change in relation to price. This is because if consumers require medication then it is unlikely they will refuse to buy it based on a slight price increase
What kind of elastic demand does electricity belong?
It depends on whether electricity is necessity or luxury. In the US where electricity is a necessity, the demand is likely to be inelastic In Africa where electricity is luxury, the demand is likely to be elastic
Are newspapers elastic or inelastic?
Probably the easiest way to think about the question of elasticity is "If the price of my product rises, will lots of people stop buying it?" If the answer is "Yes", then the good is elastic. If the answer is "No", then the good is inelastic.As a result, the question of whether newspapers are elastic or inelastic depends on the community. If you have a community where there are no alternative news sources, newspapers are likely going to be inelastic (because people generally want to know the news). If you have a community with access to substitute news sources, such as television journalism or internet journalism, newspapers are likely to be more elastic. Of course, if you have a community that does not care about the news at all and would not consume news, newspapers would be perfectly elastic since nobody would buy one at any cost.
Why is kidney replacement considered to be an inelastic demand?
A demand curve is inelastic if the demand changes very little with price. If you needed a new kidney to live, most likely it would not matter if the hospital charged $1,000 or $500,000. You would find a way to get the money in order to live. In most modern countries, insurance makes sure that the price you pay is a tiny fraction of the actual cost, which also helps to make the curve inelastic.
Steeper supply curve is more likely to be price elastic or price inelastic?
Price inelastic
Are pharmaceutical products elastic?
They are likely to be inelastic meaning the demand for the products will not change in relation to price. This is because if consumers require medication then it is unlikely they will refuse to buy it based on a slight price increase
What kind of elastic demand does electricity belong?
It depends on whether electricity is necessity or luxury. In the US where electricity is a necessity, the demand is likely to be inelastic In Africa where electricity is luxury, the demand is likely to be elastic
What services are offered by Spanair?
Spanair offers limited on board services to their passengers, whether you are economy or first class. They offer food services available for purchase. This is likely due to the financial troubles the company has been having.
What do you mean by feasibility?
Feasibility means easily, or likely it is that something will be able to be done. Business often due feasibility studies on products or services.
Are Services different from products?
Services and products have a number of differences andsimilarities.You can touch a product, it has physical characteristics. Almost all products are made so the first one on the shelf is identical to the second one on the shelf.Products are made by humans, services are performed by humans.Services tend to be customized to the person or the situation. Whether it is a repair or a hair cut or preparing a tax return, there will be much greater variance from one service to the next. And of course, you can't touch a service.However, the methods of promoting products and services are very similar - they both advertise, identify target markets, etc. The tenets of customer service hold true for both...although people are more likely to be upset if they are unhappy with their haircut as opposed to their can of tuna!
Is there wifi in a limo?
It's possible. Whether such services or the more likely 3G/4G service is provided is up to the company which owns the limo.
Are newspapers elastic or inelastic?
Probably the easiest way to think about the question of elasticity is "If the price of my product rises, will lots of people stop buying it?" If the answer is "Yes", then the good is elastic. If the answer is "No", then the good is inelastic.As a result, the question of whether newspapers are elastic or inelastic depends on the community. If you have a community where there are no alternative news sources, newspapers are likely going to be inelastic (because people generally want to know the news). If you have a community with access to substitute news sources, such as television journalism or internet journalism, newspapers are likely to be more elastic. Of course, if you have a community that does not care about the news at all and would not consume news, newspapers would be perfectly elastic since nobody would buy one at any cost.
Which service is most likely to be provided by student services?
Advising/Counseling, orientation and Services for Individuals with Disabilities are some of the services that is most likely to be provided by the student services.
What will happen in business if the communication is ineffective?
If communication is ineffective, a business is likely to be less productive in terms of profit making. It is also likely to lose a considerable number of clients as the services and products offered may not meet expectations.
Would you describe Kodak's services as customized or standardized?
This will depend upon the type of service you are asking about. The service available to amateur photographers is standardized - there are a set number of products provided. However, for professional photographers and industrial clients, the services are likely to be more customized.
Why is kidney replacement considered to be an inelastic demand?
A demand curve is inelastic if the demand changes very little with price. If you needed a new kidney to live, most likely it would not matter if the hospital charged $1,000 or $500,000. You would find a way to get the money in order to live. In most modern countries, insurance makes sure that the price you pay is a tiny fraction of the actual cost, which also helps to make the curve inelastic.
