Economics
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Boundless Economics
Elasticity and its Implications
Price Elasticity of Supply
Economics Textbooks Boundless Economics Elasticity and its Implications Price Elasticity of Supply
Economics Textbooks Boundless Economics Elasticity and its Implications
Economics Textbooks Boundless Economics
Economics Textbooks
Economics
Concept Version 8
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Applications of Elasticities

Elastic Demand

Elastic Demand

For elastic demand, when there is an outward shift in supply, prices fall which causes a large increase in quantity demanded.

Source

    Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:

    "IB Economics/Microeconomics/Elasticities."
    http://en.wikibooks.org/wiki/IB_Economics/Microeconomics/Elasticities Wikibooks CC BY-SA 3.0.

Related Terms

  • elastic
  • supply
  • inelastic
  • demand
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