Inelastic demand
Revision as of 17:50, 8 January 2013 by Professional Pricing Society (talk | contribs) (Created page with "Demand is said to be inelastic when the absolute value of the elasticity of demand is less than one. '''Inelastic demand''' implies large changes in p...")
Demand is said to be inelastic when the absolute value of the elasticity of demand is less than one. Inelastic demand implies large changes in price are associated with relatively smaller changes in quantity demanded by the market.