What Factors Affect Elasticity Of Demand?

What Factors Affect Elasticity Of Demand? Many factors determine the demand elasticity for a product, including price levels, the type of product or service, income levels, and the availability of any potential substitutes. High-priced products often are highly elastic because, if prices fall, consumers are likely to buy at a lower price. What factors affect

What Is The Difference Between Price Elastic And Inelastic Demand?

What Is The Difference Between Price Elastic And Inelastic Demand? Elastic demand means there is a substantial change in quantity demanded when another economic factor changes (typically the price of the good or service), whereas inelastic demand means that there is only a slight (or no change) in quantity demanded of the good or service

Does The Government Earn More Revenue From Taxing Goods That Have Elastic Or Inelastic Demand?

Does The Government Earn More Revenue From Taxing Goods That Have Elastic Or Inelastic Demand? The tax incidence depends on the relative price elasticity of supply and demand. When supply is more elastic than demand, buyers bear most of the tax burden. When demand is more elastic than supply, producers bear most of the cost

Are Fruits And Vegetables Elastic Or Inelastic?

Are Fruits And Vegetables Elastic Or Inelastic? All fruits are own-price elastic with the exception of bananas which are slightly inelastic, but not significantly so. Apples, pears, and bananas are expenditure inelastic while oranges, grapes and other fruits are expenditure elastic. Are fresh vegetables elastic or inelastic? Results show that the demand for fresh vegetables

Does A Monopolistic Competitor Have An Elastic Or Inelastic Demand Curve?

Does A Monopolistic Competitor Have An Elastic Or Inelastic Demand Curve? Does a monopolistic competitor have an elastic or inelastic demand curve? Since there are substitutes, the demand curve facing a monopolistically competitive firm is more elastic than that of a monopoly where there are no close substitutes. Is monopolistic competition elastic or inelastic? In