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ELASTICITY AND DEMAND SLOPE: The slope of a straight-line demand curve, one with a constant slope, has constantly change elasticity. No two points on a straight-line demand curve as the same elasticity. The point of intersection between the demand curve and the vertical, price axis is perfectly elastic (E = ∞). The intersection point between the demand curve and the horizontal, quantity axis is perfectly inelastic (E = 0). The exact middle, or midpoint, of the demand curve is unit elastic (E = 1). The segment between the midpoint and the price-axis intercept is relatively elastic (1 < E < ∞). The segment between the midpoint and the quantitY-axis intercept is relatively inelastic (0 < E < 1).
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INDETERMINANT The directional change in a variable, resulting from the disruption of an equilibrium that is identified using comparative statics, is not known. This term is commonly used to indicate that the change in either price or quantity is unknown when the market experiences simultaneous shifts in both the demand and supply curves. For example, an increase in both demand and supply definitely cause an increase in the quantity exchanged. But whether the market price increases or decreases is indeterminant.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Learning is not compulsory, but neither is survival. " -- W. Edwards Deming, management consultant
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AFBD
Association of Futures Brokers and Dealers (UK)
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