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Explain the concept of price elasticity of demand? How does one calculate it? What is the relationship between price elasticity of demand and firms’ total revenue?

Price elasticity of demand (PED) is a measure of the responsiveness of demand for a product after a change in that product’s price. It is calculated with the following formula: PED = %change in quantity d...

JS
Answered by Julia S. Economics tutor
31138 Views

Explain the term civil society.

Civil society refers to organisations that occupy the space between the government and the people, the term covers, but is not limited to, non-governmental organisations, trade unions, religious groups an...

GH
2682 Views

Discuss the ways that the consumption of resources by MEDCs have environmental, social and economic consequences in LEDCs.

Per person there is an over-consumption of resources in MEDCs and that this does have negative consequences for LEDCs.  The consumption (and exhaustion) of domestic resources or the demand for cheaper alt...

JA
Answered by Janine A. Geography tutor
4364 Views

How do I answer paper 1?

Paper 1 is an unseen commentary paper. It can seem tricky at first but once you get the hang of it you can do very well on this paper!  I think its helpful to have a formula of how to answer these questio...

EP
Answered by Esther P. English tutor
10423 Views

When and how is the imperfect subjunctive used in Spanish?

The imperfect subjunctive is used frequently in Spanish in numerous different occasions such as hypothetical situations or after certain verbs that convey instruction or doubt. The imperfect subjunctive i...

BT
Answered by Ben T. Spanish tutor
1781 Views

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