What happens to elasticity as price increases?

What happens to elasticity as price increases? The more discretionary a purchase is, the more its quantity of demand will fall in response to price rises. That is, the product demand has greater elasticity. But the less discretionary a product is, the less its quantity demanded will fall. When demand is elastic a price decrease […]

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top