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

Name: If the price elasticity of demand is greater than 1, then consumer demand is
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A price elasticity greater than 1 indicates an elastic demand, meaning that a small change in price leads to a relatively larger change in quantity demanded. In this case, consumers are very responsive to changes in price and will quickly change the amount they demand in response to a change in price.

If the Price Elasticity of Demand Is Greater Than 1