Definition: Elastic demand is an economic concept that occurs when the quantity of a product responds intensively to a change in the price of the product.What Does Elastic Demand Mean? Contents [show] What is th
Price elasticity of demand (PED) is a measure of how responsive quantity demanded is to a change in the price of the good. Elastic demand exists when demand is VERY responsive to price changes while inelastic demand occurs when demand is not very responsive. ...
Producers that raise prices when facing an elastic demand will find that total revenues decrease as the gain from charging higher prices is more than offset by a desertion of consumers to cheaper substitutes, with sales and output falling. When price 1782 Words 8 Pages Better Essays Read More ...
Definition:Unit elastic demand is an economic theory that assumes a change in price will cause an equal proportional change in quantity demanded. Put simply unitary elastic describes ademandorsupplythat is perfectly responsive to price changes by the same percentage. You can think of it as a unit...
Price elasticity of demand is useful in deciding the amount to be paid to the factors of production. The factor with an inelastic demand can have a higher price as opposed to a factor with relatively elastic demand. This allows the trade unions to understand the places where they can get an...
elastic demand.Answer:B 相关知识点: 试题来源: 解析 B 该题考查对货币需求类型的理解,需逐一分析选项:- **A. 总需求(aggregate demand)**:总需求指一国经济中商品和服务的总需求,与货币需求(通常指外汇需求)无直接关联,排除。- **B. 派生需求(derived demand)**:派生需求是因其他需求间接产生的需求。
What is an example of elastic supply?Elastic Supply:Elasticity is defined as how much the demand or supply for a product or service changes in association to that product's price. Elasticity of supply determines the responsiveness of the amount supplied to the change in price of goods, with ...
elastic demand. 相关知识点: 试题来源: 解析 B. a derived demand. **选项A**:总需求(aggregate demand)通常指一国经济中所有消费者、企业、政府和外国部门对最终产品和服务的总需求。货币需求并不属于总需求的范畴,因此A错误。 **选项B**:派生需求(derived demand)指因对另一种商品/服务的需求而产生的...
#3 Elasticity of demand Consumer groups must demonstrate varyingelasticities of demand(i.e., low-income individuals being more elastic to airplane tickets compared to business travelers). If consumers all show the same elasticity of demand, this pricing strategy will not work. ...
What is the definition of perfectly elastic demand?In a market that has perfectly elastic demand for a product, even a small change in price causes an infinite change in the quantity demanded. Therefore, in a perfectly elastic demand, an infinite number ofquantities demandedare associated with a...