purplegirl01 purplegirl01
  • 13-06-2016
  • Geography
contestada

Why would a good have elastic demand? Inelastic demand?

Respuesta :

drealmeida drealmeida
  • 14-06-2016
Many factors can influence if a good has an elastic or inelastic demand such as price. Let's use price as an example. Let's say that I am selling a good X at 10 dollars and in a given week I sell 200 items of the good X. If on the following weeks I test a higher price or even a lower price and the demand keeps the same we can say that the product could be inelastic.
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