Assertion: elasticity | /r/HasProperty | negative
Facets:
value: always
type: DEGREE
value: almost
type: DEGREE
Source sentences:
text: Although the elasticity is negative for the vast majority of goods and services, economists often refer to price elasticity of demand as a positive value (i.e., in absolute value terms).
text: That is, even when an increase in price is paired with a decrease in quantity (as with most demand curves), the elasticity will be positive; remember to drop any minus signs when finding your final value for elasticity.
text: Because demand exhibits an inverse or negative relationship, elasticity of demand will be a negative number.
text: Why is Elasticity negative?
text: As with cross-price elasticity, whether our elasticity is positive or negative provides valuable information about how the consumer views the good:
text: It is common to refer to the absolute value of the price elasticity as simply price elasticity, since for a normal (decreasing) demand curve the elasticity is always negative and so the "minus" part can be made implicit.
text: The cross-elasticity of substitutes in production is negative.
text: Elasticity is almost always negative as the relationship between the demand and the price is decreasing in most situations.
text: As with cross-price elasticity, whether our elasticity is positive or negative provides valuable information about how the consumer views the good:
text: Generally, increases in per capita income tend to decrease the poverty rate, hence the elasticity is positive.