what is choke price?

Expert Solution

the choke price refers to the minimum possible price at which the quantity demanded of a certain product is 0. Thus, the quantity demanded is positive and at all prices equal and above the choke price, the quantity demanded is 0. It is widely used to understand the dynamics of demand especially in the case of commodity pricing oil, electricity etc.

Rahul Sunny answered 2 years ago

After a rash of injuries and deaths in the Big Choke Coal Mine, members of the...

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After a rash of injuries and deaths in the Big Choke Coal Mine, members of the...

After a rash of injuries and deaths in the Big Choke Coal Mine, members of the Parliamentary Workplace Safety Committee are holding public hearings about proposed regulations to increase the level of safety at the Big Choke Mine. An economist trained in the theory of imperfect information and behavioral economics is hired by the union representing mine workers. He argues that introducing new safety regulations at the Big Choke Mine may lead to the mine workers being better off. Outline...

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Young softball batters are often instructed to “choke-up on the bat” by their coach. In terms...

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what is choke price?

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