Price Elasticity of Demand 0.0 / 5 ? BusinessTheme 1: Marketing and People ASEdexcel Created by: charlottemay27Created on: 05-04-16 20:58 Price Elastic Demand a change in price results in greater change in demand 1 of 5 Price Elasticity of Demand the responsiveness of demand to a change in price 2 of 5 Price Inelastic Demand a change in price results in a proportionately smaller change in demand 3 of 5 If the value of price elasticity is Less than 1 its Price Inelastic 4 of 5 If the value of price elasticity is Greater than 1 its Price Elastic 5 of 5
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