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What factors affect the elasticity of a product?
The elasticity of a product is influenced by several factors, including the availability of substitutes, the proportion of income spent on the product, and the necessity versus luxury nature of the product. If there are many close substitutes available, demand tends to be more elastic. Additionally, products that take up a larger portion of a consumer's budget or are considered luxuries typically exhibit greater elasticity. Other factors include time frame for adjustment and consumer preferences.
What is the elasticity of domestic air ticket in South Africa?
The elasticity of domestic air ticket prices in South Africa typically indicates how sensitive consumer demand is to changes in ticket prices. Generally, the demand for air travel is considered to be price inelastic, meaning that significant changes in price result in relatively small changes in the quantity of tickets sold. However, specific elasticity can vary based on factors like economic conditions, competition, and the availability of alternative transportation options. Overall, understanding this elasticity helps airlines in pricing strategies and revenue management.
What is the difference between income elasticity demand and price elasticity demand?
price elasticity is the degree to which demand for a good will change relative to a change in the price of that good. Income elasticity is the degree to which demand for a good will change relative to a change in the spending power of the consumer. it is the percentage change in quantity demanded/percentage change in price.
How many factors does 24 have?
the factors are 1,2,3,4,6,8,12,24 and it has 8 factors
How many factors of 64?
Seven factors.
What factors affect elastic of demand?
There are plenty of factors affecting elasticity of demand including climate of the area. Other factors that effect elasticity of demand include supply and group of people buying.
What are the 2 factors that determine the natural frequency of an object?
Factors: elasticity and shape of the object
What are the factors that affect elasticity of spring?
bodoh,sial,sengal
Factors influencing the price elasticity of demand?
Very good answer here: http://tutor2u.net/economics/content/topics/elasticity/elastic.htm
Factors affecting income elasticity of demand?
The income factor affecting income elasticity of demand is weather or not goods are necessities of luxury.
What are factors that would effect the elasticity of an object?
Factors that can affect the elasticity of an object include the material it is made of, its temperature, the presence of any defects or imperfections, and the amount of force applied to it. The type of loading (e.g. tension, compression, shear) and the object's dimensions can also influence its elasticity.
What factors affect the elasticity of a product?
The elasticity of a product is influenced by several factors, including the availability of substitutes, the proportion of income spent on the product, and the necessity versus luxury nature of the product. If there are many close substitutes available, demand tends to be more elastic. Additionally, products that take up a larger portion of a consumer's budget or are considered luxuries typically exhibit greater elasticity. Other factors include time frame for adjustment and consumer preferences.
What are the three factors that affect price elasticity of supply?
I cannot answer this question.
Coefficient of elasticity how many types?
As many types as variables are used to calculate the elasticity. Elasticity is simply a relationship between rates of change of variables in equations.
What is the elasticity of substitution formula and how is it used to measure the responsiveness of the substitution between two factors of production?
The elasticity of substitution formula measures how easily one factor of production can be replaced by another in the production process. It is calculated as the percentage change in the ratio of two factors divided by the percentage change in their marginal rate of technical substitution. A higher elasticity indicates that factors are more easily substituted, while a lower elasticity suggests they are less interchangeable.
How is the price elasticity of demand measured and what factors are considered in determining it?
The price elasticity of demand is measured by calculating the percentage change in quantity demanded in response to a percentage change in price. Factors considered in determining price elasticity of demand include the availability of substitutes, necessity of the good, and time period for adjustment.
If you were to lose a significant amount of weight would it distort your tattoo?
There are many different factors to be considered. If the elasticity of you skin is good, then it shouldn't affect it at all.
