Economy, asked by criya3605, 7 months ago

Conclusion on price elastic and price inelastic

Answers

Answered by Balarohith7brainly

Answer:

If the elasticity is between 0-1, demand is said to be inelastic (little 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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