Price Elasticity Homework Answers

Need help with your homework? Look no further! Our subject experts are ready to effortlessly handle your assignments, so you can finally say goodbye to stress and hello to top grades.

Click or drag files to this area to upload. You can upload up to 3 files.
Get a response in under 15 min

Take a Help in Price Elasticity Assignment Answers

How the Price Elasticity Homework Answers Is Determined? 

Price Elasticity is the ratio between the changes in the demand of a product with the change in the price of the product. It is expressed in percentage which is almost always negative. The Price Elasticity is positive for only exceptional cases like that of Veblen and Giffen goods.

Determinants of the Price Elasticity Assignment Answers:

The determinants of the Price Elasticity Homework Answers are as follows:

  1. Availability of substitute goods:

The availability of substitute goods is an important determinant of the Price Elasticity Homework Answers of a product. With the presence of such substitute goods, the demand for the product changes drastically for even a small change in the price of the product. Hence, the demand of the product will be elastic. While the absence of any substitute goods results in no or lesser change in the demand of the product when the price changes. Thus, the demand will be inelastic.

  1. Disposable income of the consumers:

The Price Elasticity Assignment Answers of a product depends on the level of disposable income of the consumer. The larger the price component of the product in the consumer’s income the larger will be the elasticity of the product. When the price of the good represents a smaller part of the income of the consumer, then the demand of the product will be inelastic for the consumer.

  1. Necessity of the product:

The necessity of the product determines the Price Elasticity Homework Answers of the product. If the product is necessary for the consumer then the consumer will buy it irrespective of the change in the price of the product. Thus, the price elasticity of such a product is inelastic. If the product does not have the same level of necessity such that the consumers will curtail the purchase of the product due to increase in price then the product is said to have an elastic demand.

  1. Duration of the price change:

If the price change of a product takes place for a longer period of time then the consumer will have a longer period to search for substitutes. Thus, the Price Elasticity Homework Answers of the product is elastic. So, the larger the duration of the price change of a product, higher the chances of the demand of the product becoming elastic.

  1. Loyalty to the product:

If the product enjoys customer loyalty due to the company, services or features of the product, the Price Elasticity Assignment Answers will be inelastic. This is because the customers will buy the product irrespective of the price change out of loyalty to the brand associated with the product.

Visit to get all your academic updates and more!

Surfing the web may sound like an awesome job but surfing the web for academic purposes can be very frustrating. So, if you are tired of looking for solutions and answers for your projects and assignments then we have the perfect solution for you!

Here at we provide the best answers for all your projects and assignments. We cover all major subjects and their topics which include Physics, Chemistry, Economics, Accountancy, English and many more!

Homework Blues?

Get expert help with homework for all subjects.

  • NPlagiarism-free work
  • NHonest Pricing
  • NMoney-back guarantee

Latest Reviews

Solved Sample Works

Accounting Homework

Corporate Accounting Sample

Biology Homework

Genetics Assignment Sample

Essay Writing Help

Business Plan Sample

Homework Help FAQs

Our Answers to Your Questions

How do I submit my homework?

Getting homework help is very simple with us. Students can either send us the homework via email or they can upload it to our online form here. For a quicker response, You can also chat with us at WhatsApp and submit homework directly. You are sure to get a response from our side within 10 minutes.

How much will my homework cost?

The cost of paying someone to do your homework varies depending on the service and the type of assignment. We have listed our standard pricing plans for popularly used writing services. For other kind of assignments, You can get a free instant quote from us using our online form.

We also accept partial payment to start working on your assignment help. You can pay the remaining amount when your task gets completed. No pressure of up-front payment. No hidden order costs.

Can I receive help with my homework anytime?

Yes, you can receive help with your homework anytime with us. Our online homework help services are available 24/7, allowing you to receive assistance with your homework anytime, anywhere.

For urgent homework requests, reach out to us through our LiveChat or WhatsApp channels and one of our friendly support agents will assist you in finding the right expert for your online homework help request immediately. With our services, you can rely on 24/7 availability and meeting deadlines.

Are online homework websites budget-friendly for students like me?

Yes, Our Online Homework Help websites are an affordable solution for you as a student. Compared to traditional tutoring services, MyHomeworkHelp prices their homework help services honestly and within the budget of college students. This makes it easier for you to receive assistance with your homework without breaking the bank.

What is your plagiarism-free policy?

At myhomeworkhelp, we take plagiarism very seriously and ensure that all solutions provided by our tutors are original and authentic. Our tutors are trained to provide custom-made solutions, tailored specifically to meet the requirements of each student. We do not provide pre-written papers. All our homeswork solutions are made from scratch, guaranteeing 100% orignal homework answers.

Additionally, we have strict plagiarism-detection tools in place to check all submissions for authenticity.

Is using an Online Homework Help Service cheating?

Using online homework help services is not equivalent to cheating. Our services are intended to support students with their homework and provide them with the resources they need to succeed academically. With the help of our online homework help services, students can receive immediate assistance with their homework from any location, at any time.

At myhomeworkhelp, we are committed to promoting academic integrity. Our tutors provide solutions that serve as guides for drafting your own work. It is not acceptable to submit someone else's work as your own, as this constitutes academic plagiarism.

Can I chat with my tutor?

Using our secure chat board, you can now chat directly with your assigned tutor. The chats are encrypted both ways to secure your privacy. This makes your contact with the tutor directly & confidentially, so you can better explain any requirements or changes if needed or just need updates.

You can't contact the experts outside of chat board platform. Sharing any personal information, including but not limited to contact information, goes against our Terms and Conditions and therefore may result in permanently blocking you from the platform. We take any personal data very seriously and we do it for the safety of our users.

Know more about chat board here.

What is your money-back guarantee policy?

It’s worth noting that our online homework help service rarely leads to disappointment among students. Our expert tutors, along with our support and quality assurance team, are dedicated to providing the best possible experience for our customers. However, if for any reason a student is unsatisfied with their homework help solution, we offer unlimited revisions until they are fully satisfied.

In the rare event that a student remains unsatisfied even after revisions, we offer a money-back guarantee. We want all of our students to feel confident and secure when they turn to us for assistance with their homework, and this guarantee is just one way that we demonstrate our commitment to providing the best possible service. If you have any concerns about our services or the quality of the work you receive, please contact us for support.

What is the expertise of the tutor assigned to do my homework?

At myhomeworkhelp, we take pride in our team of qualified and experienced tutors. All of our tutors undergo a rigorous selection process and are required to have a minimum of a master's degree in their respective fields. Additionally, they must pass a series of tests to demonstrate their proficiency and ability to deliver quality work. We believe in transparency and providing our clients with the best possible service. You can be confident in the expertise of the tutor assigned to do your homework.

What about privacy & confidentiality?

Using My Homework Help is absolutely safe. We care about your security, therefore we encrypt all personal data to make every user feel safe while using our services and we don’t share any personal information with any third parties without your permission. Your credit card information is not stored anywhere at My Homework Help, and use of PayPal relies on their secure payment networks. Your identity, payment and homework are in safe hands. You can always be certain of getting professional help and remaining anonymous, while using My Homework Help.