Ask Question
11 March, 20:39

What are the three cases for the price elasticity of demand? Briefly define each.

+1
Answers (1)
  1. 11 March, 23:05
    0
    Demand can be elastic, inelastic, or unit elastic. Elastic demand occurs when the percentage change in quantity demanded exceeds the percentage change in price. Inelastic demand occurs when the percentage change in quantity demanded is less than the percentage change in price. Unit elasticity occurs when the percentage change in price equals the percentage change in demand.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What are the three cases for the price elasticity of demand? Briefly define each. ...” in 📙 Arts if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers