Distinguish between:
Relatively elastic demand and relatively inelastic demand
Relatively elastic demand and relatively inelastic demand
Relatively elastic demand
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Relatively inelastic demand
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In this case, the change in price leads to a proportionately large change in the quantity demanded.
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In this case, the change in price leads to a proportionately less change in the quantity demanded.
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It represents a flatter demand curve.
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It represents a steeper demand curve.
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Here, Ed > 1
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ere, Ed < 1
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