reedj1779 reedj1779

29-10-2017
Business

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If the price-elasticity coefficient for a good is 1.75, the demand for that good is described as

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andriansp andriansp

09-11-2017

the demand for that product is described as elastic.
A product is considered elastic if the demand for that product could be influenced by the change of price in that product.
Any product that has the price-elasticity coeffcient >1 could be considered as an 'elastic' product.

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