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under-elastic demand

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  • Demand response — This article is about the electrical concept. For the transport concept, see Demand responsive transport. A clothes dryer using a demand response switch to reduce peak demand In electricity grids, demand response (DR) is similar to dynamic demand …   Wikipedia

  • Demand curve — An example of a demand curve shifting In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity, and the amount of it that consumers are willing and able to purchase at that given price. It is …   Wikipedia

  • Demand for money — The demand for money is the desired holding of financial assets in the form of money: that is, cash or bank deposits. It can refer to the demand for money narrowly defined as M1 (non interest bearing holdings), or for money in the broader sense… …   Wikipedia

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  • Kinked demand — The kinked demand curve theory is an economic theory regarding oligopoly and monopolistic competition. When it was created, the idea fundamentally challenged classical economic tenets such as efficient markets and rapidly changing prices, ideas… …   Wikipedia

  • Hicks-Marshall laws of derived demand — In economics, the Hicks Marshall laws of derived demand assert that, other things equal, the own wage elasticity of demand for a category of labor is high under the following conditions: * When the price elasticity of demand for the product being …   Wikipedia

  • Amazon Elastic Compute Cloud — Amazon Elastic Compute Cloud, also known as EC2 , is a commercial web service which allows paying customers to rent computers on which to run their own computer applications. EC2 allows scalable deployment of applications by providing a web… …   Wikipedia

  • Monopoly — This article is about the economic term. For the board game, see Monopoly (game). For other uses, see Monopoly (disambiguation). Competition law Basic concepts …   Wikipedia

  • Monopolistic competition — Short run equilibrium of the firm under monopolistic competition. The firm maximizes its profits and produces a quantity where the firm s marginal revenue (MR) is equal to its marginal cost (MC). The firm is able to collect a price based on the… …   Wikipedia

  • Tax incidence — In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to fall upon the group that, at the end of the day, bears the burden of the tax. The key concept is that… …   Wikipedia

  • Price discrimination — or price differentiation[1] exists when sales of identical goods or services are transacted at different prices from the same provider.[2] In a theoretical market with perfect information, perfect substitutes, and no transaction costs or… …   Wikipedia

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