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price elasticity of demand

This topic has 1 reply, 2 voices, and was last updated 11 years ago by John Moffat.

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November 4, 2014 at 1:24 am #207588
mansoor
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when the demand is inelastic, is it safe to say that the profits will also fall if the price is reduced or we can only be sure about the fall in revenues?
November 4, 2014 at 5:31 pm #207695
John Moffat
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If demand is inelastic, all you can say with certainty is that changes in the selling price will have little effect on the level of demand.
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