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If a 5 percent reduction in the price of a commodity results in a 3 percent increase in the quantity ...

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If a 5 percent reduction in the price of a commodity results in a 3 percent increase in the quantity ...

If a 5 percent reduction in the price of a commodity results in a 3 percent increase in the quantity demanded, demand is said to be

▸

perfectly elastic.

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elastic.

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unit elastic.

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inelastic.

▸

perfectly inelastic.

Textbook

Economics

Edition: 12^th

Author: Arnold

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gisellerol Author

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Thank you, thank you, thank you!

dri

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Brilliant ツ

annielin111

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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