Price Elasticity of Demand At prices above the mid- point of the demand curve, demand is elastic.
{"Image DocumentName": "Price Elasticity of Demand", "Image ImageDescription": "The contrast between the two outcomes in Figure 4.1 highlights the need for. A measure of the responsiveness of the quantity demanded to a price change. The price elasticity of demand is a units-free measure of the responsiveness of the quantity demanded of a good to a change in its price when all other influences on buyers\u2019 plans remain the same.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}