1 seller has ample time to adjust to price change2 , Ask an Expert

Economics

1. Seller has ample time to adjust to price change.

2. Buyer's response to small price change is significant.

3. Buyers are faced with many options when deciding to make a purchase.

4. Sellers do not have much time to adjust to price change.

5. Buyers consider this item to be a necessity.

a. Elastic demand

b. Inelastic demand

c. Inelastic supply

d. Elastic supply

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9523886

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Qestion 1 an individual utility function is given by uch

Question: 1) An individual utility function is given by U(c,h) = c·h, where c represents consumption during a typical day and h hours of leisure enjoyed during that day. Let l be the hours of work during a day, then l + ...

Question 2-1 your organization collects data on individual

Question: 2-1: Your organization collects data on individual patients shown in Appendix Table 2. Identify whether each variable is measured nominally, ordinally, or as an interval/ratio variable. Nominally 2-2: What stat ...

Question - in fall 2013 apple loaned its sapphire glass

Question - In fall 2013, Apple loaned its sapphire glass supplier $578 million to set up a manufacturing plant to produce the glass for the new iPhone 6. In November 2014, Apple's glass supplier lost the contract and pro ...

Question suppose two bonds apple inc and samsung

Question: Suppose two bonds (Apple Inc. and Samsung Electronics Co., Lid) are traded in the bond market and Ms. Wilson needs your advice on which one to buy. For the Apple bond, there is a probability of 60% (hat this bo ...

Question 1- marketing of unsought goods is ethical or not

Question: 1- Marketing of unsought goods is ethical or not? Give example of unsought goods? 2- Why international guarantee and warranty use in UAE? The response must be typed, single spaced, must be in times new roman fo ...

Question during 1983 1984 and 1985 the dollar was

Question: During 1983, 1984, and 1985, the dollar was overvalued and kept rising. During that period, real imports rose $160 billion and real exports rose only $27 billion, while real GDP rose an average of 5.1% per year ...

Question in 1955 the last year when social security

Question: In 1955, the last year when social security payments included only old-age payment (before disability), payments totaled $4.9 billion. For 2001, the figure was $433 billion (excluding Medicare, which was anothe ...

Question - polyas four-step problem-solving process is a

Question - Polya's four-step problem-solving process is a general and systematic process for solving problems. Use this process to solve an application problem. Describe each step of the problem-solving process for the p ...

Question state a requires a unitization contract before oil

Question: State A requires a unitization contract before oil production begins from a field, while State B requires a contract only after production has begun. Do you expect that State A or State B will have a larger fra ...

Question how would the reduction in the number of immigrant

Question: How would the reduction in the number of immigrant workers affects the economy in the short-term (Use IS-LM framework and graphs) The response must be typed, single spaced, must be in times new roman font (size ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert