Social Studies, 20.07.2019 14:00, CelesteN64

What does the term “elastic” describe? demand whose elasticity is exactly equal to 1 the way consumers make substitutions demand that is very sensitive to a change in price demand that is not very sensitive to a change in price

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Business, 15.07.2019 16:30, ello17

What does the term “elastic” describe? the way consumers make substitutions demand whose elasticity is exactly equal to 1 demand that is very sensitive to a change in price demand that is not very sensitive to a change in price

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Social Studies, 19.09.2019 12:30, bnnn

Abusiness decreases the price of their product by 10%, as a result, consumer demand for the product has also increased by 10%. which term does the scenario best describe? a. demand elasticity b. inelastic demand c. elastic demand d. unit elastic demand

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Business, 16.11.2019 07:31, dyalisa15

Determinants of the price elasticity of demand consider some determinants of the price elasticity of demand: ? the availability of close substitutes ? whether the good is a necessity or a luxury ? how broadly you define the market ? the time horizon being considered a good with many close substitutes is likely to have relatively ,inelastic) demand, since consumers can easily choose to purchase one of the close substitutes if the price of the good rises. a good? s price elasticity of demand depends in part on how necessary it is relative to other goods. if the following goods are priced approximately the same, which one has the least elastic demand? -diamond necklace -a heart valve for heart attack victims the price elasticity of demand for a good also depends on how you define the good. organize the goods found in the following table by indicating which is likely to have the most elastic demand, which is likely to have the least elastic demand, and which will have demand that falls in between.

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