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. | |
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| + | ==See also== | ||
| + | *[[Inelastic Demand]] | ||
| + | *[[Price Elasticity of Demand]] | ||
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| + | [[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.