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Price Elastic Demand Definition | Becker

Accounting Dictionary

Price Elastic Demand

Price elastic demand is when a 1 percent increase in price results in a greater than 1 percent decrease in the quantity demanded (i.e., when the absolute value of the price elasticity of demand is greater than 1). See also price inelastic demand.

Related Terms:

Price Inelastic Demand [BAR]Back to Dictionary

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