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What factor had the greatest influence on elasticity and in elasticity of supply?
Demand from consumers.
Elasticity of Demand and Supply with graph?
buang ka
How is elasticity of supply related to elasticity of demand?
Elasticity of supply refers to the responsiveness of guantity supplied of a commodity to changes in its own price. And the formulafor measuring elasticity of supply percentagechange in quantity supplied/ %change in price
What is price elasticity?
price elasticity is the degree of responsiveness of demand or supply to a small change in price.
What happens to the price if supply increases?
If the cost of supply falls for each unit of supply (a shift of the supply curve right), the change in price depends on the price elasticity of demand: Price is unchanged when price elasticity of demand is infinite. Price falls when price elasticity of demand is less than infinite.
Elasticity as applied to demand and supply?
Do not answer this...hahah
What factor had the greatest influence on elasticity and in elasticity of supply?
Demand from consumers.
Elasticity of Demand and Supply with graph?
buang ka
How is elasticity of supply related to elasticity of demand?
Elasticity of supply refers to the responsiveness of guantity supplied of a commodity to changes in its own price. And the formulafor measuring elasticity of supply percentagechange in quantity supplied/ %change in price
What is price elasticity?
price elasticity is the degree of responsiveness of demand or supply to a small change in price.
What happens to the price if supply increases?
If the cost of supply falls for each unit of supply (a shift of the supply curve right), the change in price depends on the price elasticity of demand: Price is unchanged when price elasticity of demand is infinite. Price falls when price elasticity of demand is less than infinite.
Point elasticity of supply?
The point elasticity of supply is a measure of the rate of response of quantity demand due to a price change. The higher the elasticity, the more sensitive the sellers are to these changes.
What is the degree to which the supply or demand of something responds to changes in price?
Elasticity.
What factors affect elastic of demand?
There are plenty of factors affecting elasticity of demand including climate of the area. Other factors that effect elasticity of demand include supply and group of people buying.
What is price elasticity of demand and supply on gourmet coffee?
It's around 3.5!
What is the elasticity of labor?
The rate at which any change in labor effects demand of labor or supply.
Income Elasticity of Supply and Demand?
The price elasticity of supply (or demand) is the percentage change in supply/demand for a one-percentage change in price. Eg, if the price elasticity is 1, a 1% change in the price of a good causes a 1% drop in price. (Note that elasticity is given in absolute value, since it is usually negative.)
