Difference between revisions of "Elastic good"
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m (Elastic Good moved to Elastic good) |
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Revision as of 17:14, January 3, 2009
- It has been proposed that this page, :Elastic good, be titled, "Elastic good".
An elastic good is a good that has elastic demand. If a product is elastic, consumers will be able to easily adapt to the change through substitution. If the price of an elastic good is raised, it causes a significant drop in demand.