Why are price elasticities of demand called elastic or inelastic when other elasticities are not?

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Why are price elasticities of demand called “elastic” or “inelastic” when other elasticities are not?

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Economics For Healthcare Managers

ISBN: 9781640550483

4th Edition

Authors: Robert Lee

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Question Posted: Oct 28, 2023 03:25 AM

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Why are price elasticities of demand called elastic or inelastic when other elasticities are not?

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The terms elastic and inelastic are used to describe the responsiveness of demand in the context of price elasticity because these terms help convey t...View the full answer

Economics For Healthcare Managers

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