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 | + | 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 == | ||
Revision as of 00:08, May 18, 2007
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.