Why is it that the price elasticity of demand in the short


Why is it that the price elasticity of demand in the short run is <1 while in the short run it i is >1 ? Explain why the income elasticity of demand for dental care is >1 while the income elasticity of demand for flour is <1 ?

Request for Solution File

Ask an Expert for Answer!!
Business Economics: Why is it that the price elasticity of demand in the short
Reference No:- TGS01657171

Expected delivery within 24 Hours