Register
Whats the difference between elastic and inelastic in business
83.6k views
22 votes
Whats the difference between elastic and inelastic in business

User Dsz
by
3.2k points

1 Answer

5 votes

Answer:

Elastic demand means there is a substantial change in quantity demanded when another economic factor changes typically the price of the good or service, whereas inelastic demand means that there is only a slight or no change in quantity demanded of the good or service when another economic factor is changed.

Step-by-step explanation:

Hope this helps

From,

1kvibing

User Taylor Kidd
by
3.4k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.4m questions

4.3m answers

Other Questions

How can expansionary​ expenditure-based fiscal policy lead to crowding out in the​ economy? A. ​Expenditure-based fiscal policy increases the national​ debt, inducing​ forward-looking households and firms
Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation.
In order to attract younger customers to the Lacoste brand of clothing, CEO Robert Siegel made all of the major decisions in product planning, distribution, and promotion. He asked for no input from his
The method of appraisal in which the appraiser estimates the replacement cost of the building, deducts depreciation, and adds the value of the site is:________
The Yum and Yee food truck near the business school serves customers during lunch hour by taking orders and making fresh batches of stir-fry. Customers have only one choice during the lunch hour so that
Link Copied!