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Is plastic surgery inelastic if expenditures decrease and more surgeries are performed?
Yes, plastic surgery can be considered inelastic in this context. If expenditures decrease while the number of surgeries performed increases, it suggests that the demand for plastic surgery is relatively insensitive to changes in price. This implies that even as costs drop, people continue to seek out these procedures, indicating a strong desire or necessity for them that isn't significantly affected by price fluctuations.
What else can I help you with?
What was the major reason for the decrease in the number of psycho surgeries performed?
Laws prohibited the procedure. (don't hold me to that answer!)
What happens to the price of a good in a market with perfectly inelastic supply when there is a decrease in demand for that good?
In a market with perfectly inelastic supply, the price of a good will not change when there is a decrease in demand for that good.
When is demand inelastic?
When a reduction in price results in a decrease in total revenue.
A price decrease will cause total revenue to fall if?
demand is inelastic
What economic changes will decrease household expenditures?
Deflation
What happens to the total energy in an inelastic collision?
In an inelastic collision, some of the total energy is transformed into other forms such as heat or sound, resulting in a decrease in the total energy of the system.
If aggregate planned expenditures are greater than total production?
GDP will decrease
How would a decrease in total expenditures affect the nation's economy?
it causes a recession
Why would a government tax on cigarettes be an ineffective method to decrease consumption of cigarettes if demand for cigarettes is inelastic?
Because cigarettes are a inelastic item, and when something is inelastic, people are going to buy it no matter if the price changes or not. Inelastic= necessity item Necessity item= people will always buy even when the price increases
If a price change causes the quantity demanded of a good to decrease by 30 percent while total revenue of that good increases by 15 percent is the demand curve elastic or inelastic?
inelastic
In order for a price decrease to increase revenue which of the following must be true A. Demand must be elastic B. Demand must be inelastic. C. Demand must be unit elastic D. Supply must be inelastic?
A)
Inelastic demand curve?
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
