Describes demand when a given change in price causes a relatively larger change in the quantity demanded

Question

asked Jan 14, 2023 125k views

1 Answer

Kavindu Dissanayake · Answer 1 · 2023-01-21T04:40:06+0000

Answer:

Explain: Demand is elastic when a change in price causes a relatively larger change in quantity demanded. Demand is inelastic when a change in price causes a relatively smaller change in quantity demanded. Demand is unit elastic when a change in price causes a proportional change in quantity demanded.

Describes demand when a given change in price causes a relatively larger change in the quantity demanded

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

No related questions found

Categories

Other Questions