63 801
Assignments Done
99,5%
Successfully Done
In August 2018

Answer to Question #72045 in Microeconomics for Divine

Question #72045
If the value of the price elasticity of demand is 0.6 demand is said to be
Expert's answer
The price elasticity of demand is always negative. But in this case price elasticity of demand is positive, that`s why we can say that when price of good increases then quantity of goods also increases. It is possible when this good is Giffen good.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions