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More cards in this set
Card 16
Front
What happens when the price of a unitary price elasticity product changes?
Back
Card 17
Front
What happens when the price of a price inelastic product changes?
Back
Card 18
Front
What numerical value does a price elastic product have?
Back
Card 19
Front
What numerical value does a unitary price elasticity product have?
Back
Card 20
Front
What numerical value does price inelastic product have?
Back
Card 21
Front
Why is PED important for businesses?
Back
Card 22
Front
How would the demand curve of a price elastic product look?
Back
Card 23
Front
How would the demand curve of of a price inelastic product look?
Back
Card 24
Front
Is increasing the price of a price inelastic product a good thing?
Back
Card 25
Front
If demand is price elastic how would increasing and decreasing price affect toal revenue?
Back
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