Price elasticity of demand coefficient can be interpreted in several ways. Briefly explain them.

      

Price elasticity of demand coefficient can be interpreted in several ways. Briefly explain them.

  

Answers


Faith
Inelastic demand if the absolute coefficient is less than 1
Elastic demand if the absolute coefficient is greater than 1
Unitary elastic if the absolute coefficient is equal to 1

Faimus answered the question on January 16, 2019 at 19:36


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