Concept
Version 8
Created by Boundless
Applications of Elasticities
Elastic Demand
For elastic demand, when there is an outward shift in supply, prices fall which causes a large increase in quantity demanded.
Source
Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:
"IB Economics/Microeconomics/Elasticities."
http://en.wikibooks.org/wiki/IB_Economics/Microeconomics/Elasticities
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