x is elastic to y: when y changes, x tends to change a lot with it.
x is inelastic to y: when y changes, x does not change much with it.
elastic
The midpoint between elastic and inelastic is unit elastic
is soap elastic or inelastic supply
elastic
The demand for insulin is considered inelastic, meaning that changes in price do not significantly affect the quantity demanded.
Inelastic
just check momentum before and after and if they're the same then elastic if not then inelastic.
difference between elastic and inelastic demand
The demand for electricity is generally considered to be inelastic, meaning that changes in price do not significantly affect the quantity demanded.
elastic
Highly elastic.
elastic