Own Price Elasticity of Demand

Elastic Demand: Meaning, How to Calculate It

Updated on April 12, 2022 by Ahmad Nasrudin

Elastic demand means the quantity demanded is responsive to price changes. When prices rise by 5%, according to the law of demand, the quantity

Updated on April 8, 2022 by Ahmad Nasrudin

Own-price elasticity of demand measures how responsive demand is when the price of goods changes. It is elastic or responsive when a slight change in

Updated on April 15, 2022 by Ahmad Nasrudin

Unitary elasticity of demand is a situation in which the price change affects the quantity demanded at an equivalent percentage. For example, when