Explain types of price elasticity top demand.
Explain types of price elasticity top demand.
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Newton D
There are 5 types of elasticity of demand:
Perfectly Elastic Demand (EP = ∞) …
Perfectly Inelastic Demand (EP = 0) …
Relatively Elastic Demand (EP> 1) …
Relatively Inelastic Demand (Ep< 1 ) …
Unitary Elastic Demand ( Ep = 1)
manish1008
5 Types of Price Elasticity of Demand – Explained! ADVERTISEMENTS: … Elastic demand is the one when the response of demand is greater with a small proportionate change in the price. On the other hand, inelastic demand is the one when there is relatively a less change in the demand with a greater change in the price.