Explore BrainMass
Share

Elastic demand

This content was STOLEN from BrainMass.com - View the original, and get the solution, here!

What does it mean for the good to be elastic, inelastic, or just unit elastic?

© BrainMass Inc. brainmass.com September 25, 2018, 1:10 am ad1c9bdddf - https://brainmass.com/economics/supply-and-demand/elastic-demand-examples-80462

Solution Preview

Relatively elastic means that relatively small changes in price cause relatively large changes in quantity. Elastic demand occurs when buyers can choose from ...

Solution Summary

Elastic demand types are briefly noted.

$2.19