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Brrunno [24]
3 years ago
5

What is the value that indicates elastic demand?

Social Studies
1 answer:
sweet [91]3 years ago
6 0

Answer:

PED coefficient equal to one indicates demand that is unit elastic; any change in price leads to an exactly proportional change in demand (i.e. a 1% reduction in demand would lead to a 1% reduction in price). A PED coefficient equal to zero indicates perfectly inelastic demand.

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