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Elastic demand occurs when consumers are responsive to price changes for a good or service.
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From examples to calculation, our expert financial definition walks you through this economic term. Elasticity measures the relationship between a good and its price based o. The balance elastic demand occurs when the price of a good or service has a big effect on consumers. When the glowing reviews of nvidia's geforce 8800 gt hit the net, reviewers couldn't believe how great a card it is for "just $200.". Expect to pay more than.
Expect to pay more than.
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