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When you think about elasticity and inelasticity graphically it always helps me to think of that the end result will be. So I will walk you through my thought process.
If supply is inelastic, then no matter the price, supply will always be the same.
If price is on the y-axis and quantity is on the x-axis ( as they usually are) then:
Perfectly inelastic supply will be represented by a vertical line.
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Is the value of mean equals 35.4 and value of median equals 35 the shape of the curve skewed is?
the shape of the curve skewed is "right"
Which shape is a closed curve shaped like an egg?
An ellipse.
A shape that is perfectly round like a circle?
Is a circle.
What is a protractor in geometry?
A protractor is any of several devices used to either define an angle or curve, or to draw an angle, curve, or shape.
What is a flat face and a curve face of a shape?
You like mens willy
What is the shape of supply curve during the market period?
The supply curve during the market period is perfectly inelastic and vertical. This shows that the supply cannot be increased in the short run.
Why is it difficult to judge elasticity of demand or supply if you are merely observing the appearance of a demand or supply curve on a graph?
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
What is the difference between inelastic collision and perfectly inelastic collision?
In an inelastic collision kinetic energy is lost (generally through energy used to change an objects shape), but the two objects rebound off each other with the remaining kinetic energy. In a perfectly inelastic collision the two objects stick together after the collision.
Why the aggregate supply curve has its particular shape?
The aggregate supply curve is positively sloped because at a higher price level, producers are more willing to supply more real output.
Shape of the IS curve when investment is perfectly interest elastic?
the IS curve in this case will be perfectly horizontal. An expansionary fiscal policy will be ineffective because an increase in the interest rate discourage all private sector investment. There will be full crowding out of investment in such a case...
Why is product possibility curve linear?
The production possibility curve is not always linear, in fact, it is usually concave down (bowed-in). The shape of the curve depends on the substutability of the goods described by the curve in the question. When goods are perfectly substitutable in production, the PPP (or PPF) is linear.
What shape is a Cooling curve graph?
A Cooling curve graph changes shape.
What is shape of indifference curve?
what will be the shape of indifference curve if one of the two goods is a free commodity
What is the shape of demand curve in perfect competition?
The demand curve in a perfectly competitive market is U-shaped owing to the fact that as the economies of scale take effect average costs begin to lower down. Finally though, the diseconomies of scales take effect too thereby causing the average costs to go up hence creating a u-shape for the demand curve.
What causes abnormal supply curves?
Abnormal supply curves are typically caused by factors that disrupt the usual relationship between price and quantity supplied. These factors can include sudden changes in input costs, such as unexpected increases in raw material prices or disruptions in the supply chain. Other causes may include government regulations, technological advancements, or natural disasters that impact the production process and alter the supply curve's shape and slope. Overall, abnormal supply curves reflect temporary or long-term shifts in supply conditions that deviate from the standard supply curve model.
Why bh curve is curve?
i believe it's called 'curve' because of the shape, it's curved ...
What is the shape of offer curve and what is the reason behind this particular shape of offer curve?
Good day, I would like to know the relevance of OFFER CURVE to applied microeconomics.
