Chemistry, asked by manandarak20861, 4 days ago

What does a price elasticity of 0.5 mean?

Answers

Answered by crazydaisy07

Explanation:

decreases in price will cause larger increases or decreases in quantity demanded. Products with lots of substitutes have elastic demand as consumers switch. If the calculated value of price elasticity is <1 then demand is inelastic.

Previous Question

Next Question

Similar questions

Math, 2 days ago

4^x=7^y=28 then x+y/xy ...

Math, 2 days ago

3 3 a) The sum of three consecutive even numbers is less than 253. Write down an inequality to represent the information then find the three highest possible even integers.

Math, 2 days ago

2. Find a quadratic polynomial each with the given numbers as the sum and product of its zeroes respectively. From that, find the zeroes of the polynomial : 21 * (1) 1 5 16 * (2)26. - 2...

Hindi, 4 days ago

please answer correctly 2,3,4...

Chemistry, 4 days ago

What are the 7 fundamental dimensions?

Computer Science, 8 months ago

Hey! Can anyone plz provide me the pdf or pics of the chapters of the part A from Kip's information technology book class 10...List of the chapters is given in attachment..

History, 8 months ago

State any two aims of the League of Nations.

Math, 8 months ago

the degree of polynomial is the power of...... term in x...