Module 3 Assignment Assessments Content Your task is to complete all assigned questions to the best of your ability. What are the four different types of market structures? In two or more sentences provide at least 3 or more characteristics that separate a perfectly competitive market structure from a monopolistic market structure? Which type of market […]
Based on the price elastic of demand (OWN price elasticity) what we can say about your category?
Micro Economics https://data.ers.usda.gov/reports.aspx?ID=17825 Click on the above link, Then choose Australia and find Price elasticity of demand ( Own Price) and Income elasticity for your category for Australia! then answer the following questions: 1) What is the name of your category ? 2) Based on the price elastic of demand (OWN price elasticity) what we […]
Write a discussion post that identifies real world goods or services that have elastic/inelastic demand.
Elastic vs Inelastic Demand Write a discussion post that identifies real world goods or services that have elastic/inelastic demand. Name a specific good or service that has inelastic demand (it has a steep demand curve). Explain why quantity demanded does not change in response to an increase or decrease in price. Then name a specific […]