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 than one. Raising the price of and 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 than one. Raising the price of and elastic good causes a large drop in demand. | ||
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| + | == See Also == | ||
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| + | [[Inelastic demand]] | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 15:01, May 17, 2007
Elastic Demand is high elasticity. The percent change in quantity over the percent change in price is a number greater than than one. Raising the price of and elastic good causes a large drop in demand.