maddoxkailee06 maddoxkailee06
  • 11-04-2020
  • History
contestada

Define price elasticity of demand. Explain the difference between elastic demand and inelastic demand.

Respuesta :

Аноним Аноним
  • 19-05-2020

Price Elasticity of demand is the difference in quantity demanded compared to difference in price. Elastic demand is given change in price causes relatively larger change in the quantity demanded. Non-Elastic demand is given change in price causes relatively smaller change in the quantity demanded.

One can have a strong effect on the demand curve while the other has a lesser effect!

Answer Link

Otras preguntas

Which statement best describes the centeral idea of this excerpt
oof i have no question
I don’t understand this question.
Park Corporation is planning to issue bonds with a face value of $710,000 and a coupon rate of 7.5 percent. The bonds mature in 8 years and pay interest semiann
Kyree can run ⅓ of a mile in 2 minutes. How long does it take Kyree to run 1 mile?
simplification of 2​
There are 8 soccer teams for the 110 players in the league. The league wants the same number of players on each team. Which explains whether or not it is possib
What effect does suspense typically have on a reader? Check the four best answers. shivers down the spine a belief that the narrator is unreliable a contradicto
Question 8 of 10 How would high tariffs help America? O A. Immigrants would be able to find good jobs. B. Americans would sell fewer goods to other countries. O
how important to have a freedom