PED/PES Flashcards by Ella Toogood-Pugh | Brainscape

Q

PED is more elastic when there are /// substitutes

A

Many

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Q

PED is more elastic in the /// run

A

Long

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Q

PED is more elastic when the good is not a ////

A

Neccesity

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Q

If the good is a larger proportion of income then demand is…

A

Inelastic

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Q

If a good is adddictive then demand is …

A

Inelastic

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Q

Supply is more elastic when firms have /// stock

A

more

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Q

Supply is more elastic when a firm operates /// full capacity

A

Below

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