Difference between revisions of "Elastic Demand"
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'''Elastic demand''' is high [[elasticity]]. The percent change in quantity over the percent change in price is a number greater than one. Raising the price of an elastic good causes a large drop in demand. | '''Elastic demand''' is high [[elasticity]]. The percent change in quantity over the percent change in price is a number greater than one. Raising the price of an elastic good causes a large drop in demand. | ||
| − | ==See | + | ==See also== |
*[[Inelastic Demand]] | *[[Inelastic Demand]] | ||
*[[Price Elasticity of Demand]] | *[[Price Elasticity of Demand]] | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Latest revision as of 11:56, July 13, 2016
Elastic demand is high elasticity. The percent change in quantity over the percent change in price is a number greater than one. Raising the price of an elastic good causes a large drop in demand.