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Introduction to Economics 1
INTRODUCTION TO ECONOMICS I (İKTİSADA GİRİŞ I) - (İNGİLİZCE) Dersi Elasticity, Government Policies and Market Efficiency soru cevapları
INTRODUCTION TO ECONOMICS I (İKTİSADA GİRİŞ I) - (İNGİLİZCE) Dersi Elasticity, Government Policies and Market Efficiency soru detayı:
SORU:
When we can say that the demand is elastic?
CEVAP:
Demand is elastic when the percentage change (decrease) in quantity demanded is larger than the percentage change (increase) in price. Elastic demand has an absolute value greater than 1.