Question

window price elasticity of demand is low the demand curve will be​

Answer 1

Answer:

Demand tends to be more price inelastic in the short-run as consumers don’t have time to find alternatives. In the long-run, consumers become more aware of alternatives.

Price elasticity of demand measures the responsiveness of demand to a change in price.

Explanation:

price-elasticity-demand-formula

Demand is price inelastic if a change in price causes a smaller % change in demand. This gives a low PED <1.

Demand is price elastic if a change in price causes a bigger % change in demand. This gives a high PED >1