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Within a range of prices, if the coefficient of elasticity of resource demand is greater than one, the resource demand in that range is:________.
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Within a range of prices, if the coefficient of elasticity of resource demand is greater than one, the resource demand in that range is:________.

User Lebby
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6 votes

Answer:

Elastic

Step-by-step explanation:

Demand is elastic when a small change in price leads to a greater change in the quantity demanded.

The coefficient of elasticity for elastic demand is usually greater than 1.

I hope my answer helps you

User Grzegorz
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