Physics, asked by ashokkumar1992, 1 month ago

conclusion for elasticity

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Answered by hgirl4986

0

Answer:

If the elasticity is between 0-1, demand is said to be inelastic (little change). Greater than 1, demand is said to be elastic (great change). ... Since 1.33 is greater than 1, we can conclude that the demand is elastic, meaning that the change in demand caused by the change in price is considered “a lot.”

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