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Suppose the value of the price elasticity of demand is minus−3. what does this​ mean?

Suppose the value of the price elasticity of demand is minus−3. what does this​ mean?
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Suppose the value of the price elasticity of demand is minus−3. what does this​ mean?

User Juan C
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Then demand is low based upon the price.  This may mean the price offered is to high or here is an oversupply of goods.   
User Craastad
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