it means that price is elastic. Price elastic means that a little change in the price will cause a substantial change in the quantity demanded.
greater than one
I assume that when you say "elasticity," you mean "price elasticity of demand."Raise price a little. If total revenue goes up, you're in the INELASTIC region (where absolute value of elasticity is greater than 1). If it goes down, you're in the ELASTIC region.
Variable
under total otlay method basically there are 3 other sub methods with the help of which you can calculate the price elasticity of demand.they are: elasticity greater than unity...ep>1 elasticity less than unity,,,,,,,ep<1 elasticity equals to unity....ep=1
If the elasticity is greater than 1, demand is considered elastic, meaning that consumers are highly responsive to price changes. Conversely, if the elasticity equals 0, demand is perfectly inelastic, indicating that quantity demanded does not change regardless of price fluctuations. In this case, consumers will purchase the same amount no matter the price.
greater than one
I assume that when you say "elasticity," you mean "price elasticity of demand."Raise price a little. If total revenue goes up, you're in the INELASTIC region (where absolute value of elasticity is greater than 1). If it goes down, you're in the ELASTIC region.
5. It does not have a value greater than 12. Consequently, it does not have a value greater than 12 and less than 13.
In mathematics, when we comparing two values if any of the value has a larger value then the sign greater than is used for differentiating that the value is greater than the another value. > is the greater than sign, as in If x is greater than y,then x>y
Variable
under total otlay method basically there are 3 other sub methods with the help of which you can calculate the price elasticity of demand.they are: elasticity greater than unity...ep>1 elasticity less than unity,,,,,,,ep<1 elasticity equals to unity....ep=1
The price elasticity of salt is lower than that of the Toyota car because by changing the unit of measurement of salt leaves the elasticity value the same.
In the decimal system, each position is ten times greater than the one to the immediate right, and ten times less than the one to the immediate left.
greater as the absolute value of -3 is 3
The absolute value of 3 is +3. No negative number can have a value greater than +3.
If the elasticity is greater than 1, demand is considered elastic, meaning that consumers are highly responsive to price changes. Conversely, if the elasticity equals 0, demand is perfectly inelastic, indicating that quantity demanded does not change regardless of price fluctuations. In this case, consumers will purchase the same amount no matter the price.
greater than > less than < pointy end towards the smaller value