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How does the price range affect the elasticity of demand for a product?
Wiki User
∙ 12y ago
Demand for a good can be elastic at a low price but inelastic at a high price.
YouRE VERY WULCOM
novanet ANSWER =)
Wiki User
∙ 12y ago
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Conclusion of price elasticity of demand?
The conclusion of the price of elasticity of demand is the effect of price change based on the revenue it receives. It is based off the demand of the product and the price of the product.
What is the difference between elasticity and inelasticity of demand?
Inelasticity is a good that you will buy nomatter the price change. Elasticity is when the price of a product increases demand for the product will decrease.
What is importance of elasticity?
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
What is importance of cross elasticity?
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
What is the lowest elasticity of demand?
The lowest elasticity of demand is when no change in price, whether increase or decrease, changes the demand for a product.Ê It's used by economists to predict how sensitive a product is to a price change.
Conclusion of price elasticity of demand?
The conclusion of the price of elasticity of demand is the effect of price change based on the revenue it receives. It is based off the demand of the product and the price of the product.
What is cross price elasticity demand?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
How does the price range affect the elasticity of demand for the product?
Demand for a good can be elastic at a low price but inelastic at a high price. YouRE VERY WULCOM novanet ANSWER =)
What is cross price elasticity?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
What is the difference between elasticity and inelasticity of demand?
Inelasticity is a good that you will buy nomatter the price change. Elasticity is when the price of a product increases demand for the product will decrease.
What is importance of elasticity?
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
Significance of elasticity of demand?
Elasticity of demand will help managers determine what behaviors affect customer's buying behavior. Price elasticity will tell managers whether they can change the price of products or not.
What is importance of cross elasticity?
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
What is the lowest elasticity of demand?
The lowest elasticity of demand is when no change in price, whether increase or decrease, changes the demand for a product.Ê It's used by economists to predict how sensitive a product is to a price change.
What is cross elastic?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
Distinguish between price and income elasticity of demand?
distinguish between price elasticity of demand and income elasticity of demand
What is unitary elasticity?
The term unitary elastic is used in economics and is also known as unitary elastic demand or unitary elasticity. It is a measure that is used to show the elasticity of the amount demanded of a product to a change in the price of the product.
