lectur16-page19

lectur16-page19 - sensitive to prices). ‰ Ed ‰ = 1...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
19 Ed > 1 elastic demand (very responsive to price changes). Ed < 1 inelastic demand (not very
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: sensitive to prices). ‰ Ed ‰ = 1 unitary elastic (ratio of % D s = 1)....
View Full Document

This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

Ask a homework question - tutors are online