halcyon 933 Posted November 30, 2015 Share Posted November 30, 2015 its the oligopoly market structure graph (economics) the textbook said a bunch of crazy incomprehensible shit can you guys explain just the basics?? Link to comment Share on other sites More sharing options...
halcyon 933 Posted November 30, 2015 Author Share Posted November 30, 2015 lol pls guys Link to comment Share on other sites More sharing options...
valentinna 14,313 Posted November 30, 2015 Share Posted November 30, 2015 what i remember of it, is when is elastic, a "big" difference between two C&R means a big difference in output too And then is inelastic, a big difference of two C&R doesn't really affect the difference of output like the first case, this happens to with goods that are indispensable or really important for the people in general. even if it's more expensive, the people is gonna buy it anyway But i don't remember everythinf related to that graph lol i used to.. Link to comment Share on other sites More sharing options...
halcyon 933 Posted November 30, 2015 Author Share Posted November 30, 2015 what i remember of it, is when is elastic, a "big" difference between two C&R means a big difference in output too And then is inelastic, a big difference of two C&R doesn't really affect the difference of output like the first case, this happens to with goods that are indispensable or really important for the people in general. even if it's more expensive, the people is gonna buy it anyway But i don't remember everythinf related to that graph lol i used to.. yeah haha thanks so much really i got the elasticity of demand down but just wondering why its kinked and demand changes from elastic to inelastic and what determines the point I'm really lost lol i can't with economics its so weird Link to comment Share on other sites More sharing options...
Junkrat 5,683 Posted November 30, 2015 Share Posted November 30, 2015 when it goes from -1 to 1 to 0 to -1 to 1 elastic to inelastic Link to comment Share on other sites More sharing options...
SehunsTrophyWife 346 Posted November 30, 2015 Share Posted November 30, 2015 lol what is ur question tho?? the graph explains oligopoly. if u want you can read this: http://www.economicshelp.org/microessays/markets/oligopoly-diagram/ Link to comment Share on other sites More sharing options...
SehunsTrophyWife 346 Posted November 30, 2015 Share Posted November 30, 2015 you can also read this: http://www.economicsonline.co.uk/Business_economics/Oligopoly.html i think the explanation is pretty clear. maybe it will help you. Link to comment Share on other sites More sharing options...
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