However, that relationship varies depending on the item. An elastic demand curve means that a change in price has a large effect on buying, while an inelastic demand curve means that a price ...

Price elasticity of demand is a measurement of the change in ... then the product is said to have unit (or unitary) price elasticity. And if the quantity purchased changes less than the price ...

This brings to light the strategy of pricing in the inelastic region of the demand curve. Price elasticity ... the profit-maximising solution is at unit elasticity (as depicted in the top panel).