Economy, asked by krittythelly, 8 months ago

When the price elasticity of demand exceeds one, a price cut

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Answered by Anonymous

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Answer:

An elastic demand or elastic supply is one in which the elasticity is greater than one, indicating a high responsiveness to changes in price. Elasticities that are less than one indicate low responsiveness to price changes and correspond to inelastic demand or inelastic supply.

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