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The supply curve of a dog-walking business would be considered elastic because it can quickly respond to changes in demand. If more pet owners seek dog-walking services, the business can easily increase its supply by hiring more walkers or extending operating hours without significant delays or costs. Additionally, the relatively low barriers to entry in the dog-walking market allow new competitors to enter quickly, further increasing supply in response to demand fluctuations.
What else can I help you with?
Why would the supply curve of a dog-walking business be considered elastic?
Because it can hire workers quickly if the price rises.
Why is world supply curve horizontal?
The world supply curve is considered perfectly elastic.
Why would a supply curve in the dog walking business be considered elastic?
A supply curve in the dog walking business would be considered elastic because providers can quickly adjust their services in response to changes in demand or price. For instance, if the price for dog walking services increases, more individuals may enter the market or existing walkers may expand their hours, thereby increasing supply. Additionally, the relatively low barriers to entry and the flexibility of scheduling further contribute to the elasticity of the supply curve in this industry.
Is it true that the demand curve is elastic in this region?
Yes, the demand curve is elastic in this region.
Why would the supply curve of a dog walking business be considered elastic?
The degree to which a demand or supplycurvereacts to a change in price is the curve's elasticity. Products that are necessities are more insensitive to price changes because consumers would continue buying these products despite price increases.chacha answer xD
True or False the steeper the demand curve the less elastic the demand curve?
It is false that the steeper the demand curve the less elastic the demand curve. The steeper line is used in economics to indicate the inelastic demand curve.
What part of the curve represents the elastic deformation of a material?
I assume you mean the curve of length against applied force (or mass) for a wire. The beginning part of the curve should be a straight line, and this is where the deformation is elastic. When the substance passes its elastic limit, the line starts to curve up.
What part of the curve represents the elastic deformation of the material?
I assume you mean the curve of length against applied force (or mass) for a wire. The beginning part of the curve should be a straight line, and this is where the deformation is elastic. When the substance passes its elastic limit, the line starts to curve up.
An item's demand curve will be elastic when?
substitutes are unavailible
Under perfect competition is average revenue curve elastic or inelastic?
Under Perfect Competition the demand curve is perfectly elastic. I don't know if that helps but it might
When does supply curve look like a demand curve?
When supply and demand are perfectly elastic/inelastic
What is the difference between price elastic and unit elastic?
Unit elastic - Describes a supply or demand curve which is perfectly responsive to changes in price. That is, the quantity supplied or demanded changes according to the same percentage as the change in price. A curve with an elasticity of 1 is unit elastic.
