T
Teres
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gyms and tanning salons, is? proportionately greater than the number of other new businesses, such as grocery stores.
Cement is the primary building material in Mexico. After the new technology makes cement cheaper to produce, the supply curve for the Mexican cement industry becomes relatively flatter.
Some goods that we once considered luxuries, like a telephone, are now considered virtual necessities. As a result, the demand curve for telephone services has become steeper over time.
Consumers in a less deceloped country like Guatamala, spend proportionaley more of their income on euipment for producing things at home, like sewing machines, than consumers in a more developed country like Canada.
Can someone hlp me answer these problems using the elasticity concept? I appreciate all the help I can get. Thanks
Cement is the primary building material in Mexico. After the new technology makes cement cheaper to produce, the supply curve for the Mexican cement industry becomes relatively flatter.
Some goods that we once considered luxuries, like a telephone, are now considered virtual necessities. As a result, the demand curve for telephone services has become steeper over time.
Consumers in a less deceloped country like Guatamala, spend proportionaley more of their income on euipment for producing things at home, like sewing machines, than consumers in a more developed country like Canada.
Can someone hlp me answer these problems using the elasticity concept? I appreciate all the help I can get. Thanks