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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 Also==
==See also==
*[[Inelastic Demand]]
*[[Inelastic Demand]]
*[[Price Elasticity of Demand]]
*[[Price Elasticity of Demand]]
[[Category:Economics]]
[[Category:Economics]]