order paper  
more phones
Academic writing services  
Custom written essay Book report Research paper Dissertation Resume and CV Editing and proofreading  
main menu
By ordering custom paper you get
  • 24/7 Support
  • Over 100 professional US Writers
  • 300 words per page
  • Flexible discount system
  • FREE revision (within 2 days)
  • Anti-Plagiarism Software Check
we accept
sample essays
Accounting Essays
Admission Essays
Analysis Essays
Art Essays
Biography Essays
Biology Essays
Book Review Essays
Business Essays
Case Studies Essays
Cause and Effect Essays
Character Analysis Essays
Communication Essays
Communication and Media Essays
Compute Technologies Essays
Consideration Essays
Controversial Essays
Description Essays
Economics Essays
Education Essays
Evaluation Essays
Explanation Essays
History Essays
Job Essays
Law Essays
Management Essays
Medicine Essays
Music Essays
Personal Essays
Personal Experience Essays
Persuasive Essays
Persuasive Speech Essays
Philosophy Essays
Political science Essays
Politics Essays
Proposal Essays
Psychology Essays
Reflective Essays
Religion Essays
Research Essays
Response Essays
School Essays
Science Essays
Sociology Essays
Technology Essays
World Literature Essays
Elastic and Inelastic Price essay
← AICPA’s Code of Professional ConductZero-Base Budgeting →

Elastic and Inelastic Price. Custom Elastic and Inelastic Price Essay Writing Service || Elastic and Inelastic Price Essay samples, help

Price elasticity is the degree of sensitivity of quantity of a commodity or a service that consumers demand, to a unit change in the price level of the commodity or service. Elasticity could be elastic or inelastic. An elastic commodity is the one that a unit reduction in its price level leads to a massive change in the quantity demanded. On the other hand, an inelastic commodity is the one, whose demand does not respond to changes in its price level. As we shall see in the analysis below, a shift in the supply curve to the right has a greater effect for an elastic commodity than an inelastic commodity (Mankiw, 2011).

Elastic Commodity

An elastic commodity is one whose demand is highly responsive to a small change in the price level of the commodity. Diagrammatically, we can illustrate an elastic commodity or service in the following manner.

In an event, when the supply curve shifts to the right hand side, the change in the equilibrium quantity and price level will be as in the following diagram (McEachern, 2011).

Inelastic Commodity

An inelastic commodity is the one, whose level of quantity that consumers demand, does not respond massively to a change in the price level. It usually has a steeply sloping demand curve compared to an elastic commodity.

When the supply of such a commodity shifts to the right hand side, we can demonstrate the changes in the new price level and equilibrium quantity as in the following diagram.


We can, therefore, ascertain from the above diagram that a unit change in the price level causes a smaller change in the quantity that consumers demand an inelastic commodity than for an elastic commodity (Mankiw, 2011).


In summary, we can ascertain that the effect of a price change on the quantity that consumers demand is greater for the case of an elastic price than for an inelastic price.

Elastic and Inelastic Price. Custom Elastic and Inelastic Price Essay Writing Service || Elastic and Inelastic Price Essay samples, help

Order Now
Order nowhesitating

Related essays

  1. Zero-Base Budgeting
  2. Introduction to Macro Economics
  3. AICPA’s Code of Professional Conduct
  4. Criteria for Sarbanes-Oxley

order now

Order now
why choose us
96% of satisfied returning customers
24/7 customer support
A wide range of services
Up-to-date sources
100% privacy guaranteed
MA/PhD writers
Custom written papers only
Free plagiarism report
Free revision (within 2 days)
Free extras by your request
Direct communication with a writer
Are your writers qualified for the custom writing?
How quick can my order be accomplished?
Is it legal to buy custom essays, term papers or book reports from your company?
Are essays offered by your company truly custom-written?
Is it safe to buy from SupremeEssays.com?
How secure is the payment system of your company?
Can I submit custom essays or term papers done by your company as my own?
How can I contact your company if I've got problems with my ordered paper?

Finally, I've found the real custom writing service . My grades are saying "Thank you, it's been a pleasure to work with you."

Jamal, South Africa

I can't believe you finished my essay under such a short deadline! You saved me from a disaster once again. You guys deliver exactly what you promise. I'll be back. That's for sure!

William H , Kansas, US

contact us
Toll free for US & Canada only. International callers are charged for outgoing calls.

Our phone numbers:
Toll free 1(877)801-5587
Call now 1(702)418-3797
SupremeEssays.com provides custom term paper writing/rewriting services inclusive of research material for assistance purposes only. The term papers should be used with proper reference and are not meant to replace actual assignments.

Get 15% off your first custom essay order

Order now

from $12.99/PAGE