The paper aims to determine the price elasticity of a good and its impact on current supply and demand. The chosen product is Apple’s iPhone 11

Price Elasticity of a Good and its Impact on Current Supply and Demand | Economics

Principles of Microeconomics

This text discusses the concepts of short run and long run in economics, elasticity of demand, budget line, indifference map and behavioral economics. It includes exercises on these topics and references to relevant literature. The subject is Economics for Managers and the course code is not mentioned. The text is relevant for students studying economics and management.

Polk State College

Economics for Managers: Short Run and Long Run, Elasticity of Demand, Budget Line, Indifference Map, Behavioral Economics

This article discusses the concepts of price elasticity of demand and supply, demand curve, substitution effect, and revenue in microeconomics. It explains how the availability of substitutes affects the elasticity of demand and how the demand curve varies throughout the curve. It also discusses the impact of price changes on revenue for elastic and inelastic demand. Desklib provides solved assignments, essays, and dissertations on microeconomics.

Economics

Microeconomics

monetary theory and policy

This economics assignment covers topics such as crude oil price elasticity, ice cream market analysis, cost curves, unemployment, GDP and monetary policy. The short-run price elasticity of crude oil is very low in absolute terms. The demand and the supply curve are having less slope in the long run as compared to that in the short run. The equilibrium price of the market is at P and Q, where P is the price and Q is the quantity demanded. Unemployment can be broadly classified into three categories. There is an inverse relationship between the quantity of money supplied and the interest rate.

Florida Christian University

Economics Assignment: Crude Oil Price Elasticity, Ice Cream Market Analysis, Cost Curves, Unemployment, GDP and Monetary Policy

Business Economics of Apple Assignment

Calculus

This document discusses the price elasticity of demand for tobacco products, gasoline, and Starbucks coffee. It also explores the concept of monopoly power in the Australian post industry.

Princeton University

Calculus and Analysis

Political Science

Elasticity of Demand in Economics

This document explains the three types of elasticities in economics - price elasticity of demand, price elasticity of supply, and cross elasticity of demand. It provides detailed explanations of how to calculate each type of elasticity and discusses the usefulness of elasticities in decision-making. The document also discusses the components of aggregate demand (GDP) and evaluates whether GDP is a good measure of the well-being of a nation.

Price Elasticity of a Good and its Impact on Current Supply and Demand | Economics