0
A product's inelasticity is primarily influenced by the availability of substitutes, necessity versus luxury status, and the proportion of income spent on the product. When there are few or no substitutes, or if the product is deemed a necessity, consumers are less sensitive to price changes. Additionally, if the product represents a small fraction of a consumer's budget, demand tends to be more inelastic. These factors combine to make consumers less responsive to price fluctuations.
What else can I help you with?
Why are there three partial products in1( a) and only two partial products in 1(b)?
The number of partial products in multiplication depends on the number of digits in the factors being multiplied. In 1(a), if there are three digits in one factor, each digit contributes a partial product when multiplied by the other factor, resulting in three partial products. In 1(b), if one factor has two digits, it will produce only two partial products corresponding to its two digits. Thus, the difference in the number of partial products reflects the number of digits in the factors being multiplied.
Which area do you believe contributes the least Why?
Which area do you believe contributes the least? Why?
Shape of graph that is a Supply Curve that is perfectly inelastic?
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.
What is the pattern in the ones place of the products?
its multiplies by the products
What is the process of making new products from reprocessed used products?
The process of making new products from reprocessed used products is called recycling. This is a process that is widely encouraged.
What is the difference between elasticity and inelasticity of demand?
Inelasticity is a good that you will buy nomatter the price change. Elasticity is when the price of a product increases demand for the product will decrease.
What factor has the greatest influence on elasticity and inelasticity of supply?
time
What factor has the grestest influence on elasticity and inelasticity of supply?
price of the commodity
What element in milk products also contributes to healthy bones?
Calcium
Is beachfront properties elastic or inelastic?
Beachfront properties are generally considered inelastic. This is because demand for such properties tends to remain relatively stable despite changes in price; many buyers view them as unique and desirable assets that offer lifestyle benefits. The limited supply of beachfront land further contributes to this inelasticity, as there are few alternatives for those seeking waterfront living.
Due to this inelasticity of supply land prices are increasing rapidly and this can lead to higher house price.discuss the validity if this statement.?
yes it is the size of your house yes it is the size of your house
Is tobaco elastic or inelastic?
Tobacco is generally considered inelastic, meaning that changes in price have a relatively small effect on the quantity demanded. This inelasticity is due to the addictive nature of nicotine, which leads consumers to continue purchasing tobacco products despite price increases. As a result, even significant tax hikes or price rises typically do not lead to a proportional decrease in consumption.
Why is it important for a comapny to know how different products contribute financially to overall company profits?
When a business knows what products contributes the most financially, they can establish a production environment around these products, which helps maximize their profits. Managers look at product margins to determine which products are most profitable.
Which group does the USDA food guide contributes an abundance of high quality protein?
Fish, meat, poultry and dairy products
What is butterfat used to produce?
Butterfat is primarily used to produce butter, cream, ice cream, and various dairy products like cheese and yogurt. It is a key ingredient that contributes to the richness and flavor of these products.
Why fair trade is important locally?
Fairtrade is important locally as in our local areas we are expected to by fairtrade products in order to ensure it is sustained, For example if you have any stores in your local area which have fairtrade products in them you can talk about how it contributes to increase fairtrade.
Are supermarket goods inelastic?
Supermarket goods vary in price elasticity depending on the type of product. Necessities like bread and milk tend to be inelastic, meaning consumers will buy them regardless of price changes. However, luxury items or non-essential goods can be more elastic, as consumers may reduce purchases when prices rise. Overall, the inelasticity of supermarket goods is influenced by factors such as consumer preferences, availability of substitutes, and the necessity of the products.
