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the elasticity is greater than 1, is demand elastic or inelastic? If the elasticity equals zero, is demand perfectly elastic or perfectly inelastic?.

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Sunshine0916viz

Answer:

If the elasticity is greater than 1, the demand is elastic. If the elasticity equals zero,demand is perfectly inelastic

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Astheticwallpaperviz

Answer:

In economics, the theory of elasticity refers to how supply and demand respond to changes in the price of a product or service. Learn the definition of the theory of elasticity, the formula used for calculating elasticity, and the three main ways of interpreting the result.

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