The price elasticity of a demand function measures the reaction of the quantity demanded by consumers after the price modification of a product. According to the law of demand, for normal goods, when the price of the product increases, the quantity demanded decreases, therefore there is an inverse relationship between price and quantity. Elasticity helps to assess the proportion of the modifications in the two variables.
<u>Let's analyse the following three goods:</u>
- Gasoline, is a good with an inelastic type of demand curve. When there is a change in the price of gasoline, the quantity demanded by consumers decreases in a lower proportion than the price increase. There are no easily available susbtitutes that consumers could purchase instead of gasoline to cover the same need. <em>The shape of this type of demand curve is represented by the first graph attached.</em>
- Cola, is a product with an elastic demand curve. When the price of a certain type/brand of cola drink increases its price, the quantity demanded of that product decreases in a larger proportion than the price increases. Consumers can easily switch and buy from a different cola brand or select a different type of soda drink to satisfy the same need. <em>The shape of this type of demand curve is represented by the second graph attached.</em>
- Two vending machines located next to each other provide an example of a perfectly elastic demand curve. If the price of one of the two vending machines increases for the same product, its quantity demanded would be reduced to 0, as all consumers will switch to the other machine which is located only a few centimetres away. <em>The shape of this type of demand curve is represented by the third graph attached.</em>
Answer:
The Soviet soldiers returning home after the war and the biggest fear of Stalin related to them is described below in detail.
Explanation:
Overview. Throughout and after World War two released POWs moved to distinctive "filtration camps" controlled by the NKVD. Of these, by 1945, more than 93% were cleared, and about 7% were detained or condemned to labor in retributive battalions. In 1944, they were sent immediately to reserve military establishments to be relieved by the NKVD.
Columbus promised to find an ocean route to india but instead he found north america in 1776
The Battle of France, also known as the Fall of France, was the German invasion of France and the Low Countries during the Second World War. In six weeks from 10 May 1940, German forces defeated Allied forces by mobile operations and conquered France, Belgium, Luxembourg and the Netherlands, bringing land operations on the Western Front to an end until 6 June 1944. Italy entered the war on 10 June 1940 and attempted an invasion of France.
The German plan for the invasion consisted of two main operations. In Fall Gelb (Case Yellow), German armoured units pushed through the Ardennes and then along the Somme valley, cutting off and surrounding the Allied units that had advanced into Belgium, to meet the expected German invasion. When British, Belgian and French forces were pushed back to the sea by the mobile and well-organised German operation, the British evacuated the British Expeditionary Force (BEF) and several French divisions from Dunkirk in Operation Dynamo.
After the withdrawal of the BEF, the German forces began Fall Rot (Case Red) on 5 June. The sixty remaining French divisions made a determined resistance but were unable to overcome the German air superiority and armoured mobility. German tanks outflanked the Maginot Line and pushed deep into France. German forces occupied Paris unopposed on 14 June after a chaotic period of flight of the French government that led to a collapse of the French army. German commanders met with French officials on 18 June with the goal of forcing the new French government to accept an armistice that amounted to surrender.
On 22 June, the Second Armistice at Compiègne was signed by France and Germany, which resulted in a division of France. The neutral Vichy government led by Marshal Philippe Pétain superseded the Third Republic and Germany occupied the north and west. Italy took control of a small occupation zone in the south-east, and the Vichy regime was left in control of unoccupied territory in the south known as the zone libre. The Germans occupied the zone under Fall Anton in November 1942, until the Allied liberation in the summer of 1944.
