If a 25 percentage change in price generates a 25 percentage decrease in the quantity demanded, then the demand for that product is a. elastic b. unit elastic c. perfectly elastic d. inelastic

Q: How do I know if a product is elastic or inelastic? How can I determine how elastic or inelastic it…

A: Elasticity of a product measures its responsiveness to the change in the level of price(P). It is…

Q: what is elastic. Trying to figure out if coffee is elastic or inelastic

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Q: Discuss how the demand elasticity of a product changes? Give examples.

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