Elasticity

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Laurel S

 

Date added:

February 18, 2014

 

Level:

University

 

Grade:

B

 

No of pages / words:

4 / 1057

 

Was viewed:

7562 times

 

Rating of current essay:

 
Essay content:

If Elasticity is less than one (1), demand for the product is relatively inelastic. Since quantity demanded reacts at a minimum to a change in price, a price increase would actually work in increasing total revenue. A revised computation of the previous example can illustrate this effect. Price (Px) Quantity Demanded (Qx) Total Revenue (Px X Qx) P6/slice 10 slices P60 P10/slice 8 slices P80 Price Elasticity = (10-8)/(10+8) = ...
displayed 300 characters

Custom written essay

All essays are written from scratch by professional writers according to your instructions and delivered to your email on time. Prices start from $10.99/page

Order custom paper

Full essays database

You get access to all the essays and can view as many of them as you like for as little as $28.95/month

Buy database access

Order custom writing paper now!

  • Your research paper is written
    by certified writers
  • Your requirements and targets are
    always met
  • You are able to control the progress
    of your writing assignment
  • You get a chance to become an
    excellent student!

Get a price guote

 
 

For an Elasticity of greater than one (1) or when the change in price corresponds to greater change in quantity demanded, a price reduction would be most appropriate to increase total revenue. Price (Px) Quantity Demanded (Qx) Total Revenue (Px X Qx) P6/slice 10 slices P60 P5/slice 18 slices P90 Price Elasticity = (18-10)/(10+18) = 1...
displayed 300 characters

General issues of this essay:

Related essays:

x
Services