Which one of Marshall’s rules suggest why labor demand should be relatively inelastic for public school...

Which one of Marshall’s rules suggest why labor demand should be relatively inelastic for public school teachers and nurses? Explain.

Expert Solution

Rahul Sunny answered 2 years ago

why does total revenue vary directly with price, if the demand is relatively price inelastic ?...

why does total revenue vary directly with price, if the demand is relatively price inelastic ? explain the relationships between elasticity , price and revenue use your own words ( 200 words )

Strictly along economic grounds, is the demand for a spouse relatively elastic or relatively inelastic? Explain...

Strictly along economic grounds, is the demand for a spouse relatively elastic or relatively inelastic? Explain your answer in under 1 page (and assume free choice—no arranged marriages). Only analytical and economic-based answers are acceptable.

If in a market for a good where the consumers’ elasticity of demand is relatively inelastic...

If in a market for a good where the consumers’ elasticity of demand is relatively inelastic there is an increase in shoplifting at the stores that sell this product, which is likely to be affected more, the product’s price (the price effect) or the quantity of the product purchased (the output effect)? Which of these products is likely to have a more inelastic demand, salt or Cheerios?

Are cigarettes relatively demand elastic or demand inelastic? Explain using the determinants of price elasticity of...

Are cigarettes relatively demand elastic or demand inelastic? Explain using the determinants of price elasticity of demand. Does the burden of cigarette taxes fall more heavily on buyers or sellers? Explain. Do you think that higher cigarette taxes will deter more people from smoking? (200 WORDS)

• Is the demand curve for your product relatively elastic, inelastic, or unitary elastic? Demonstrate for...

• Is the demand curve for your product relatively elastic, inelastic, or unitary elastic? Demonstrate for your company's product, by how much the quantity demanded will change if you pass on a 10% increase in cost. In other words, show your calculation of the percentage change in the quantity demanded given a 10% change in your price. You must provide calculations showing the percentage change in quantity demanded. • Given your company's and the price elasticity of demand and the...

Would you consider the demand for gas to be relatively elastic or inelastic? What changes do...

Would you consider the demand for gas to be relatively elastic or inelastic? What changes do you make to your demand for gasoline when the prices start to climb up?

Using the labor demand and supply framework, explain why the gender wage gap was relatively constant...

Using the labor demand and supply framework, explain why the gender wage gap was relatively constant between 1885 and 1980, and why the ratio of female–male earnings has increased from 0.628 in 1980 to 0.805 in 2010.

Which of the following statements is FALSE? A. The more inelastic is the demand for a...

Which of the following statements is FALSE? A. The more inelastic is the demand for a firm's product, the greater is the Lerner index. B. In the long-run, a perfectly competitive firm operates where its average total cost is minimized. C. If the monopolist sets its output such that MR, MC and AVC are all equal, the firm will be indifferent between staying open and shutting down. D. A profit-maximizing firm never produces where P < AVC.

Which of the following is correct? If the demand for a product is inelastic, a change...

Which of the following is correct? If the demand for a product is inelastic, a change in price will cause total revenue to change in the opposite direction. If the demand for a product is inelastic, a change in price will cause total revenue to change in the same direction. If the demand for a product is inelastic, a change in price may cause total revenue to change in either the opposite or the same direction. The price elasticity coefficient...

Why does a toothbrush have an inelastic demand and an automobile have an elastic demand? Explain...

Why does a toothbrush have an inelastic demand and an automobile have an elastic demand? Explain the underlying economic intuition.

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