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Earn +20 ptsQ: Is gold price elastic or inelastic?
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Continue Learning about Economics
Is the price and demand for junk food elastic or inelastic?
elastic
Is the NHS as a service price elastic or inelastic?
elastic
Steeper supply curve is more likely to be price elastic or price inelastic?
Price inelastic
What are the differences between an elastic and inelastic item?
An elastic item benefits from price decreases whereas an inelastic item does not.
When the price of a good will cause total revenue to fall if price elasticity of demand is elastic or inelastic?
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
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