Day: September 14, 2021

Types of Elasticity of Demand | 5 Degrees | Measurement | Factors

14/09/202116/07/2023 Study Notes Expert No Comments

The relative responsiveness of a supply or a demand curve in respect to price is referred as elasticity. If the curve is more elastic then it means the more quantity will be changed in respect to price change.

Managerial Economics

Detailed Indifference Curve Approach & Indifference Map

14/09/202130/04/2023 Study Notes Expert No Comments

The representation of different combinations of two goods on a curve is done by indifference curve that provides a consumer equal level of satisfaction. Between these curves the consumer is indifferent as he gets equal satisfaction from all the combinations.

Managerial Economics

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