Question

the price elasticity for medicine tends to
unitary elastic
inelastic
perfectly elastic
relatively elastic​

Answer 1

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An elastic demand is one in which the change in quantity demanded due to a change in price is large. An inelastic demand is one in which the change in quantity demanded due to a change in price is small. ... In other words, quantity changes slower than price. If the number is equal to 1, elas- ticity of demand is unitary.