Business, 12.02.2020 23:07 Jtblack2720

The size of the change in the quantity demanded of a good or service due to change in its price is measured by the elasticity of demand. When the percentage change in the quantity demanded for a good or service is less than the percentage change in price, the demand for that good or service is and the price elasticity coefficient is .

inelastic, less than 1
elastic, greater than 1
unitary, equal to 1

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