Question

demand for electricity is elastic​

Answer 1

hyy dude

Energy elasticity is a term used with reference to the energy intensity of Gross Domestic product . It is "the percentage change in energy consumption to achieve one percent change in natinal. GDP ". For every one percent increase in GDP , energy demand grew by 1 .5 percent.

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Answer 2

Answer:

Summary: Demand for electricity consumption is relatively inelastic to price implying that there are few options available to the consumer in response to changes in the price of energy. Price elasticity is inelastic but is more elastic in the long-run than the short-run.