Elastic Price Elasticity Score

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A Elastic Price Elasticity Score is a negative price elasticity that is smaller than -1.



References

2013

  • http://www.investopedia.com/terms/e/inelastic.asp
    • By way of contrast, an elastic good or service is one for which a 1% price change causes more than a 1% change in the quantity demanded or supplied. Most goods and services are elastic because they are not unique, but have substitutes. If the price of a plane ticket increases, fewer people will fly and more people will stay home or drive. A good would need to have numerous substitutes to experience perfectly elastic demand.