Google
Sunday 
March 3, 2024 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
AMERICAN ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE: A scientific society whose main mission is to advance science and innovation throughout the world. The American Association for the Advancement of Science (AAAS for short) publishes one of the most respected scientific magazines called Science. The association and magazine have nearly 140,000 individual and institutional subscribers, plus 272 affiliated organizations in more than 130 countries, serving a total of 10 million individuals. The American Association for the Advancement of Science was founded in 1848 to represent all disciplines of science and to support scientific exchange and discussion of science and society issues.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 11: Elasticity Basics | Unit 4: A Continuum Page: 20 of 25

Topic: Relatively Inelastic <=PAGE BACK | PAGE NEXT=>

  • Another large section of the elasticity continuum is comprise of relatively inelastic:

  • Relatively inelastic is an elasticity alternative in which relatively large changes in one variable (price) cause relatively small changes in another variable (quantity).
  • Once again, this works for both the price elasticity of demand and the price elasticity of supply, because the negative value of the price elasticity of demand is ignored.

  • Relatively inelastic demand and supply are represented by relatively steep, but not perfectly vertical, demand and supply curves.

Course Home | Lesson Menu | Page Back | Page Next

PERFECT COMPETITION, LONG-RUN EQUILIBRIUM CONDITIONS

The long-run equilibrium of a perfectly competitive industry generates six specific equilibrium conditions, including: (1) economic efficiency (P = MC), (2) profit maximization (MR = MC), (3) perfect competition (MR = AR = P), (4) breakeven output (P = AR = ATC), (5) minimum production cost (MC = ATC), and (6) minimum efficient scale (MC = ATC = LRAC = LRMC).

Complete Entry | Visit the WEB*pedia


APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking to buy either semi-gloss photo paper that works with your neighbor's printer or a birthday gift for your father that doesn't look like every other birthday gift for your father. Be on the lookout for gnomes hiding in cypress trees.
Your Complete Scope

This isn't me! What am I?

In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
"I think luck is the sense to recognize an opportunity and the ability to take advantage of it . The man who can smile at his breaks and grabs his chance gets on."

-- Samuel Goldwyn, Film executive

AIBD
Association of International Bond Dealers (now called International Securities Market Association)
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2024 AmosWEB*LLC
Send comments or questions to: WebMaster