Home heating gas tends to have demand becaue O elastic; it has few close substitutes O elastic; people have lots of time to adjust ther corsmin inelastic; people spend a large share of their icomes an et O inelastic; it is a necessity

Q: The income elasticity for good Y is 2.1, we can conclude that good Y is O inferior elastic Oa…

A: Given that the income elasticity of good y is 2.1 which is greater than 1.

Q: > Why might your initial elasticity (PED) and (PES) calculations be unreliable?

A: The initial elasticity (PED) and (PES) calculations are unreliable.

Q: Pleae give me correct answer with full explanation otherwise i give multiple downvote

A: Elasticity is the change in the demand initiated by the change in price level. The slope of the…

Q: B) Is this price elastic or inelastic? Should the boosktore charge more or less to maximize revenue?…

A: The measure that depicts change in quantity being demanded of a good with respect to its price level…

Q: Which of the following products is likely to have the lowest price elasticity of demand during…

A: Price elasticity of  demand refers to percentage change in quantity demanded with respect to…

Q: Jim owns a pharmacy where he sells COVID tests. At the start of the year, he raised the price from…

A: The price elasticity of demand refers to the responsiveness of the quantity demanded to a change in…

Q: When the price of a product is increased 15% , the quantity demanded decreases 10%. We can therefore…

A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…

Q: 10. Problems and Applications Q10 Consider public policy aimed at smoking. Studies indicate that the…

A: Elasticity of demand is an important concept in the theory of consumer behavior in the ambit of…

Q: The price of paint increased by 18 %. As a result the quantity of paint produced increases by 27 %.…

A: Give Increase in price = 18 % Change in supply of paint = 27 %

Q: Supposc the pricP gives us a price elasticity of demand cqual to 1. Any pricc lower than P will move…

A: Inelastic demand:   The inelastic demand refers to that the large change in the price results a…

Q: Total revenue decreases if price and demand is rises; inelastic O falls; elastic O rises; unit…

A: Total revenue is the product of price and quantity.Elasticity of demand measures the responsiveness…

Q: Exhitbit SD.2 D2 Quantity Refer to Exhibit SD.2 for the market of healthy food. One of the following…

A: Demand curve has shifted left from D1 to D2.  Option B as consumers begin to exercise more to keep…

Q: im not sure if it is C

A: Price elasticity of demand is the change in quantity demanded divided by proportionate change in…

Q: The demand for a product is O more elastic if the product represents a small portion of the…

A: In a market, the elasticity of demand depends upon various factors such as time period, budget…

Q: Q= p" Find the point elasticity-of demand,given ene positive constants. a Does the elasticity depend…

A: Given  Q=kPn   ............ (1) Differentiating equation 1 w r t P      dQdP=…