ELASTIC DEMAND - a change in price, results in a greater than proportional change in the quantity demanded ED>1.
INELASTIC DEMAND - a change in price results in a less than proportional change ED<1.
UNITARY DEMAND - a change in price results in n equal proportional change ED=1.
PERFECTLY ELASTIC DEMAND - demand changes even when price remains unchanged.
PERFECTLY INELASTIC DEMAND - change in price does not result in any change.
Read more: What_are_different_types_of_elasticity's_of_demand
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
Unitary elasticity is when the price elasticity of demand is exactly equal to one.
distinguish between price elasticity of demand and income elasticity of demand
there are three methods of measuring elasticity of demand
In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
Unitary elasticity is when the price elasticity of demand is exactly equal to one.
distinguish between price elasticity of demand and income elasticity of demand
I am at a loss for the answer please help me.
there are three methods of measuring elasticity of demand
In economics , the cross elasticity of demand and cross price elasticity of demand measures the responsiveness of the quantity demand of a good to a change in the price of another good.
is the long run elasticity of demand is ever smaller than the short run elasticity of demand.
write a note on determinates of income elasticity of demand
Elasticity of demand influenced tax revenues
Elasticity of demand influenced tax revenues
The elasticity of demand refers to how sensitive the demand for a good is to changes in other economic variables. The different types are: price elasticity, income elasticity, cross elasticity and advertisement elasticity.
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.