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Results tagged with elasticity
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user 40207
Elasticity is the measurement of how responsive an economic variable is to a change in another.
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Is -1 elasticity considered unit elastic or relatively inelastic?
Is -1 elasticity considered unit elastic or relatively inelastic?
We know that if % change in quantity / % change in price = 1, we have unit elastic, does that hold true for -1 elasticity? … which use the terms proportional, so is -1 elasticity considered unit elastic? …
- 127
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How to compare the price elasticity of demand from different points by looking at the graph?
Let's say I have a demand curve looks something like this:
How could I analyze who have the highest or lowest price elasticity of demand?
it seems that the point 1 has highest price or demand? …
- 127