What does it mean by inelastic supply

Q: What is Elasticity of supply.

A: That entire quantity of a specific item or service that is offered to clients is referred to as…

Q: What is the effect of the following on elasticity of supply in economics? a) Production techniques…

A: The elasticity of supply measures the responsiveness of change in quantity supplied to change in…

Q: Define Cross-price elasticity of demand ?

A: Elasticity refers to the responsiveness of one variable to changes in another variable; given that…

Q: How can you make use of the learning about Elasticity of demand in real life?

A: Meaning of Price Elasticity of Demand: The term price elasticity of demand refers to the…

Q: Fill in the blank What does the income elasticity of demand measures_______________________.

A: Elasticity is a term used in economics to describe how the aggregate quantity demanded or quantity…

Q: why are price elasticity demand equal percentage change in price

A: Price elasticity of demand means the extent to which the quantity demanded for a product changes due…

Q: Utility companies routinely ask state commissions for permission to raise untility rates. What does…

A: The companies that offer public utility services like electricity service, water etc are said to be…

Q: Is the elasticity constrant along the demand curve? Explain

A: A demand curve is a visual representation that shows the relationship between prices and quantity…

Q: explain the concept of inelastic demand while cproviding an example

A: Elasticity of demand depicts how much consumer responds with the change in the price level.

Q: Is the demand for tooth pick elastic or inelastic? Why? (the answer is from determents of demand…

A: Elasticity of demand refers to the degree of responsiveness of quantity demanded of a good to the…

Q: things equal, if à góóð háš móré substitutes, its price elasticity of demand is

A: According to the question If the goods has more substitute or the prices of the goods with many…

Q: What is price elasticity of demand? Explain all its dimensions by giving suitable examples and…

A: Price elasticity of demand (PED) is the responsiveness of a percentage change in quantity demanded…

Q: What is the elasticity of demand?

A: The price elasticity is the ratio of the percentage change in the quantity demanded to the…

Q: Which of the following expressions represents a cross-price elasticity of demand?

A: Cross price elasticity of demand means the responsiveness of quantity demanded of a good X with…

Q: a. List at least three determinants of price elasticity of demand that tell us whether demand for a…

A: Answer to the question is as follows:

Q: Calculate the price elasticity of demand between each of the adjacent prices. Does elasticity change…

A: Elasticity of demand depicts how much consumer responds with the change in the price level.

Q: Define elasticity of demand?

A: Answer: The elasticity of demand; elasticity of demand refers to the degree of responsiveness of…

Q: what is Elastic Demand

A: Meaning of Price Elasticity of Demand: The price elasticity of demand refers to the situation…

Q: Explain at least six determinants of price elasticity of demand?

A: Price elasticity of demand (Ed) is the percentage change in quantity demanded divided by the…

Q: Can the elasticity of demand be 0?  If yes, in what situation is this possible

A: # The term elasticity of demand related the quantity demanded and price and explains how quantity…

Q: supply is unit elastic and demand is inelastic

A: Demand generated by all the consumers/ individuals at given prices during a duration depicts demand.…

Q: Compute a slope and elasticity of the supply curve, which goes through coordinate points (1,0) and…

A: Answer: Introduction: Slope: it refers to the ratio of the change in the variable on the y-axis to…

Q: Why does price elasticty of demand is negligible? Explain.

A: Answer: Price elasticity measures the changes in the quantity demanded due to the changes that…

Q: If a fixed quatity of good is available, and no more can be made, what is the price elasticity of…

A: It is the percentage change in quantity supplied to that of the percentage change in price.

Q: What effect does the availability of many substitute have on the elasticity of demand for a good

A: Meaning of Price Elasticity of Demand: The term price elasticity of demand refers to the…

Q: What is the difference between the cross price elasticity of demand and the own price elasticity of…

A: Own price elasticity of demand refers to the ratio of percentage change in quantity demanded and…

Q: What are the determinants of elasticity?

A: Elasticity of demand is a key economic concept that determines how much a variable will change as a…

Q: List the four determinants of the price elasticity of demand.

A: Price elasticity is the ratio of percentage change in quantity demanded to the percentage change in…

Q: Derive a formula of elasticity of demand with respect to changes in  prices?

A: Demand is desire backed by ability to pay and willingness to buy. When there is increase in price…

Q: What is the difference between elastic demand and inelastic demand? Please provide and explain one…

A: Demand means the ability and desire of consumers to purchase goods and services.

Q: Elasticity of supply will increase when:

A: Elasticity of supply measures the degree of responsiveness of supply to changes in the price of the…

Q: If a supply curve is perfectly horizontal, what is the value of the price elasticity of supply?

A: The price elasticity of demand is the degree of responsiveness from the consumer towards a change in…

Q: what is the importance of price elasticity of demand to pricing managers

A: Pricing managers aim is to set the price that maximize firm's profit. Price elasticity of demand is…

Q: elasticity of demand is

A: Elasticity of demand measures how much responsive the quantity demanded is towards the changes in…

Q: If elasticity of supply is inelastic, it means that supply is ___________

A: # If the seller is less responsive towards any price chage in the market then the supply is said to…

Q: If demand is inelastic, a change in the price

A: To find : What will be change in price if demand is inelastic

Q: Explain why elasticity of demand is measured in percentages.

A: The demand curve shows the relationship between the quantity demanded and price, with other things…

Q: Explain the Elasticity of Demand?

A: Concept The theory of demand elasticity is a significant fluctuation on demand. Demand can be…

Q: Define perfectly inelastic demand ?

A: Demand refers to the situation when the consumers have a willingness to pay along with the required…

Q: Suppose the supply equation is: Q = 11 + 0.40p. What is the price elasticity of supply if the market…

A: The price elasticity of supply is a measure used in economics to show the responsiveness, or…

Q: What is the effect of the following on elasticity of supply in economics?

A: The elasticity of supply would be the ratio of the percentage change in quantity supplied because of…

Q: What are the three determinants of the price elasticity of supply?

A: Supply is the amount of output that producers or sellers are willing to sell in the market at the…

Q: What is the price elasticity of demand at any point on a perfectly inelastic demand curve?

A: The price elasticity of demand measures the percentage change in quantity demanded due to percentage…