Order the following goods from most elastic demand to most inelastic demand, with the good that...

Order the following goods from most elastic demand to most inelastic demand, with the good that has the most elastic demand on top and the good that has the most inelastic demand on the bottom.

Diary product

Yogurt

Danone yogurt

Danone stawberry yogurt

Expert Solution

The products in order from elastic to inelastic are -

Danone strawberry yogurt

Danone yogurt

Yogurt

Dairy product

Dairy product will be most inelastic as it comprises of goods that are necessity.

Rahul Sunny answered 2 years ago

For each of the following, identify where demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic:

For each of the following, identify where demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic: (a) Price rises by 10 percent, and the quantity demanded falls by 2 percent (b) Price falls by 5 percent, and the quantity demanded rises by 4 percent. (c) Price falls by 6 percent, and the quantity demanded does not change. (d) Price rises by 2 percent and the quantity demanded falls by 1 percent.

• Is demand for illegal drugs elastic, inelastic, highly elastic, highly inelastic,perfectly elastic, or perfectly inelastic?...

• Is demand for illegal drugs elastic, inelastic, highly elastic, highly inelastic,perfectly elastic, or perfectly inelastic? • What would the shape of that demand curve be (flatter or steeper)? • Prior to completing the Written assignment, you probably have ideas about how we can reduce illegal drug usage. Should we work more on reducing supply or reducing demand? • Why do you think that strategy (supply-side or demand-side) is best?

2. Elastic, inelastic, and unit-elastic demand

2. Elastic, inelastic, and unit-elastic demand The following graph shows the demand for a good For each region on the graph given in the following table, use the midpoint method to identify whether the demand for this good is elastic, (approximately) unit elastic, or inelastic. True or False: The value of the price elasticity of demand is not equal to the slope of the demand curve.

Define elastic and inelastic demand

-Detailed examples of two goods in your life that have an elastic demand and two goods that have an inelastic demand.

In Module 6 we are covering the concept of Elasticity.-Detailed examples of two goods in your life that have an elastic demand and two goods that have an inelastic demand.-Explain your reasoning being sure to apply what you’ve learned about elasticity.

Explain the concept of elasticity of demand, and provide examples of both elastic and inelastic goods....

Explain the concept of elasticity of demand, and provide examples of both elastic and inelastic goods. What determines elasticity for your examples?

T or F______ 1. An inferior good can be demand inelastic but notdemand elastic....

T or F______ 1. An inferior good can be demand inelastic but not demand elastic.______ 2. Demand is elastic if price changes by a smaller percent than quantity demanded______ 3. Total utility always decreases as marginal utility decreases.______ 4. The law of diminishing marginal utility cannot be used to make interpersonal utility comparisons.______ 5. If the demand for a product is highly elastic, a price drop may reduce incomes of the producers.Short answer problems1. Using the data below,a. Calculate the...

The demand and the supply for a good are each neither perfectly elastic nor perfectly inelastic....

The demand and the supply for a good are each neither perfectly elastic nor perfectly inelastic. Imposing an excise tax on the good is: a, paid by only seller b, paid by only buyer c, paid by best buyer and seller d, paid by neither buyer or seller. Which of the following statements about a competitive market is INCORRECT? a, a price floor is aimed at helping consumer b, price ceiling increase quantity demand c, Consumer surplus increase when price...

For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic, (approximately) unit elastic, or inelastic.

4. Elastic, inelastic, and unit-elastic demandThe following graph shows the demand for a good.For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic, (approximately) unit elastic, or inelastic.RegionElasticInelasticUnit ElasticBetween Y and ZBetween X and YBetween W and XTrue or False: The value of the price elasticity of demand is not equal to the slope of the demand curve.TrueFalse

For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic (approximately) unit elastic, or inelastic.

For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic (approximately) unit elastic, or inelastic. True or False: The value of the price elasticity of demand is not equal to the slope of the demand curve.

Question