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scoundrel [369]
3 years ago
9

10. What impacts the elasticity of demand?

History
1 answer:
Arlecino [84]3 years ago
4 0

Answer:

Many factors determine the demand elasticity for a product, including price levels, the type of product or service, income levels, and the availability of any potential substitutes. High-priced products often are highly elastic because, if prices fall, consumers are likely to buy at a lower price.

Explanation:

hope this helps

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<h2><u>Marginal Revenue and Marginal Cost</u></h2><h3>Marginal Revenue</h3>

It is referred to as the change in the revenue value due to the selling of an additional product. In the question given above, the revenue for producing 100 units is $10,000 ($100 x 100 units). So, when 1 additional unit is produced the extra revenue earned is $100 ($10,100 - $10,000). Therefore, the marginal revenue is $100.

<h3>Marginal Cost</h3>

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Companies used the details on marginal revenue and marginal cost to:

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Learn more on Marginal Revenue and Marginal Cost here: brainly.com/question/16615264

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