A method quantities called of trade to use fixed of goods for import is

Q: explain how the government use the concept of elasticity to regulate it prices

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Q: What is Elasticity of supply.

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Q: Looking t DemandCand Demend , whch of ee twpertecty e Demand Demand D

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A: Elasticity of demand depicts how much consumer responds with the change in the price level.

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Q: U (x₁, x₂) = a x₁ (a > 0).

A:

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Q: What is the difference between elastic and in elastic demand

A: Elasticity of demand is nothing but the change in quantity demanded with respect to change in price.

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A: Elasticity measures the responsiveness of quantity demanded with respect to change in price.

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Protective Tariffs

A tariff is a kind of tax that is charged on exported and imported items. It means tariff is charged on both kinds of goods i.e., exported and imported. However, some goods may be exempted from this kind of tariff. Protective Tariffs refer to the charges which a country charged on imported goods to protect its domestic market. It also protects countries Industrialists in their Production. So, that their markets remain intact and do not get dumped by outside supply.