The price elasticity of demand measures the change in consumption of a product in response to a change in its price.
<h3>Describe the types of price elasticity of demand.</h3>
If the price elasticity of a good is infinite, it is perfectly elastic (if demand changes substantially even with minimal price change). If the price elasticity is greater than one, the good is elastic; if it is less than one, the good is inelastic. A good is perfectly inelastic if its price elasticity is 0 (no amount of price change causes a change in demand). Unitary elasticity exists when price elasticity is exactly one (a price change causes an equal percentage change in demand). The presence of a substitute for a product influences its flexibility. If there are no good substitutes and the product is required, demand will remain constant even if the price rises, making it inelastic.
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A, makes sense, due to that it was okay to sell but not anymore because its risks have risen.
Answer:
is the pattern that follows any of the variables that determine the benefit of an economic activity
a standard is the reference level of some factor of production