A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing


  • 4 years ago

Would wanting to buy a new phone be an elastic demand or inelastic demand? Explain. PLEASE HELP :(

  • This Question is Open
  1. anonymous
    • 4 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Price elasticity of demand is a numerical measure of the responsiveness of demand for a product following a change in the price of that product. If demand is elastic, then a small change in price will result in a relatively large change in quantity demanded. On the other hand, it there is a large change in price and a far lesser change in quantity demanded, then demand is price inelastic. If someone is wanting (or demanding) to buy a new phone, depending on the money he has, how expensive the product *phone* is, the type of phone he would like, the substitutability of that phone and the time in which he wants that phone could all change the elasticity of the phone... So it could be either inelastic or elastic depending on these factors.

  2. anonymous
    • 4 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    it depends if u r having the purchasing power n u r willing to buy phone than it comes in elastic n u need phone no matter wht price u will arrange the amount for buying phone that that is inelastic .

  3. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...


  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.