Economy, asked by varenp9, 3 months ago

The price elasticity of demand for a good is more than one. Will the consumer buy more of that good or less? Explain giving reasons

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Answered by Anonymous

Answer:

When the value of elasticity is greater than 1.0, it suggests that the demand for the good or service is affected by the price. A value that is less than 1.0 suggests that the demand is insensitive to price, or inelastic

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The price elasticity of demand for a good is more than one. Will the consumer buy more of that good or less? Explain giving reasons​

Answers

The price elasticity of demand for a good is more than one. Will the consumer buy more of that good or less? Explain giving reasons