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Published by kaminey7

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Published by: kaminey7 on Oct 05, 2009
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11/05/2010

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 Topic Top
 
ic 
a) Elasticity Of Demanda) Elasticity Of Demand
 
 
Meaning Of ElasticityMeaning Of Elasticity
The term Elasticity expresses the degree of correlationThe term Elasticity expresses the degree of correlation between demand and Price. between demand and Price.
The elasticity of demand is a measure of the relativeThe elasticity of demand is a measure of the relativechange in account purchased in response to a relativechange in account purchased in response to a relativechange in price on a given demand curve.change in price on a given demand curve.
- Mayer A.L.- Mayer A.L.
The elasticity of demand, at any price or at any output,The elasticity of demand, at any price or at any output,is the proportional change of amount purchased inis the proportional change of amount purchased inresponse to a small change in price, divided by theresponse to a small change in price, divided by the proportional change of price proportional change of price
 Mrs. Joan RobinsonMrs. Joan Robinson
 
 
 
Classification of Elasticity of Classification of Elasticity of DemandDemand
From the viewpoint of ElasticityFrom the viewpoint of ElasticityDemand May be two types: -Demand May be two types: -a. Elastic Demanda. Elastic Demandb. Inelastic Demandb. Inelastic Demand

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