Demand is price elastic
HL onlyDemand is price elastic when quantity demanded changes by a larger percentage than price, giving a PED value above 1.
Where this appears
The syllabus topics that use this term.
Welcome to IBonomics! We are excited to launch and hope you find the website useful! Learn more about us here!
Demand is price elastic when quantity demanded changes by a larger percentage than price, giving a PED value above 1.
The syllabus topics that use this term.