- You Found The Absolute Value Of Elasticity Listed Below What Dose It Mean Select All That Apply A Iei 6 5 Oprice Is 1 (60 KiB) Viewed 73 times
- You Found The Absolute Value Of Elasticity Listed Below What Dose It Mean Select All That Apply A Iei 6 5 Oprice Is 2 (53.58 KiB) Viewed 73 times
- You Found The Absolute Value Of Elasticity Listed Below What Dose It Mean Select All That Apply A Iei 6 5 Oprice Is 3 (45.43 KiB) Viewed 73 times
B. IEI= 0.45 Owhen price of a good does up, consumer will buy a great deal less of it Ochanges in price causes an equal or proportional changes in demand Oprice is said to be inelastic Owhen price of a good does up, consumer will buy a great deal more of it Odemand is not sensitive to changes in price, that is, a percentage change in price produces a smaller percentage change in demand Oprice is said to be elastic
C. IEI= 1 Oa percentage change in price produces the same percentage change in demand Owhen price of a good does up, consumer will buy a great deal more of it Oprice is said to be unitary elastic Owhen price of a good does up, consumer will buy a great deal less of it Ochanges in price have little influence on demand