Online Tutoring for the Elasticity in Microeconomics Assignment Help
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Know the overview of Microeconomics
Microeconomics is the branch of economics which deals with economics transactions of the individuals or the company. It includes buying and selling of the commodities in the market and looks at the economy in the small or micro level. In microeconomics, elasticity is the most general topic from which questions are often asked in various examinations and the assignments are given to the students. Elasticity in microeconomics is the concept in which we determine the responsiveness of the quantity demanded to the change in factors on which the demand depends.
Price elasticity of demand: price elasticity of demand ion microeconomics is the responsiveness of the demanded quantity of the commodity to the change in its price. The demand is said to be elastic when the small change in the price of the good is accompanied by the huge change in the demand Demand is said to the inelastic when then change in demand is accompanied by the change in price.
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Topics covered in online tutoring of Microeconomics
Some of the general topics which are covered in microeconomics along with the major topics like elasticity in microeconomics assignment help include:
General equilibrium, Uncertainty, principle of general engineering and microeconomics, types of market, cost of living index, consumer theory, law of demand and supply, marginal rate of substitution, cost analysis, indifference curve, economies and dis-economies of scale and marginal utility.
Other important topics include in microeconomics tutorials are game theory, market failure and externalities, measurement of elasticity, consumer demand theory, monopoly, oligopoly and behavioral economics.