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Law Incorporation [45]
3 years ago
6

What does it mean if a product has a high level of elasticity?

History
1 answer:
GenaCL600 [577]3 years ago
5 0

Answer:

How Elasticity Works. When the value of elasticity is greater than 1.0, it suggests that the demand for the good or service is affected by the price. A value that is less than 1.0 suggests that the demand is insensitive to price, or inelastic.

Explanation:

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