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The price elasticity of supply is given by a similar formula: If the percentage change in quantity demanded is greater than the percentage change in price, demand is said to be price elastic, or very responsive to price changes.
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Answer:
The demand that Le Jouet faces for toy trains in France is less elastic than in Russia.
Explanation:
This is the statement that best describes the panorama that Le Jouet faces in France. When comparing the markets of France and Russia, we learn that the demand for toy trains in France is less elastic than the demand in Russia. Price elasticity refers to a measure of responsiveness of consumers. This measures how responsive consumers are to a price change.
