1
Q
what does a coefficient of -0.1~0.9 mean
A
the product is inelastic. this means demand is less responsive to price e.g. necessities or branded goods
2
Q
what does a coefficient of -1+ mean
A
the product is elastic meaning the demand is responsive to a change in price e.g. luxury items
aqa business alevel
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Decks in class (8)
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