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Money supply is determined by central bank decisions and willingness of commercial banks to loan money. Money supply in effect is perfectly inelastic with respect to nominal interest rates. Thus the money supply function is represented as a vertical line – money supply is a constant, independent of the interest rate, GDP, and other factors.
Relatively inelastic supply: This is when the E s formula gives a result between zero and one, meaning that when there is a change in price, the percentage change in supply is lower than the percentage change in price. For example, if a product costs $1 and then increases to $1.10 the increase in price is 10% and therefore the change in supply ...
When the demand curve is perfectly inelastic (vertical demand curve), all taxes are borne by the consumer. When the demand curve is perfectly elastic (horizontal demand curve), all taxes are borne by the supplier. If the demand curve is more elastic, the supplier bears a larger share of the cost increase or tax. [16]
When the price elasticity of demand for a good is perfectly inelastic (E d = 0), changes in the price do not affect the quantity demanded for the good; raising prices will always cause total revenue to increase. Goods necessary to survival can be classified here; a rational person will be willing to pay anything for a good if the alternative is ...
Symbolab is an answer engine [1] that provides step-by-step solutions to mathematical problems in a range of subjects. [2] It was originally developed by Israeli start-up company EqsQuest Ltd., under whom it was released for public use in 2011. In 2020, the company was acquired by American educational technology website Course Hero. [3] [4]
An early graphing calculator was designed in 1921 by electrical engineer Edith Clarke. [1] [2] [3] The calculator was used to solve problems with electrical power line transmission. [4] Casio produced the first commercially available graphing calculator in 1985. Sharp produced its first graphing calculator in 1986, with Hewlett Packard ...
Designed in 1992 as TI's second graphing calculator (the first was the TI-81), it was replaced by the TI-86, which has also been discontinued. The TI-85 was significantly more powerful than the TI-81 , as it was designed as a calculator primarily for use in engineering and calculus courses.
NuCalc, also known as Graphing Calculator, is a computer software tool made by Pacific Tech. It can graph inequalities and vector fields, and functions in two, three, or four dimensions. It supports several different coordinate systems, and can solve equations. It runs on OS X as Graphing Calculator, and on Windows.
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