If the price elasticity of demand is greater than 1,then demand is inelastic.

Name: If the price elasticity of demand is greater than 1,then demand is inelastic.
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If the price elasticity of demand is greater than 1, then demand is elastic, not inelastic. Elastic demand means that a small change in price leads to a large change in quantity demanded. In contrast, inelastic demand means that a change in price results in a proportionately smaller change in quantity demanded.

If the Price Elasticity of Demand Is Greater Than 1,then