Assertion: elasticity | /r/HasProperty | elastic
Facets:
value: highly
type: DEGREE
value: perfectly
type: DEGREE
value: over a period
type: TEMPORAL
Source sentences:
text: For example, if a good's elasticity of demand is highly elastic, then a small increase in price will cause a large drop in the quantity demanded for that good.
text: Over a period, elasticity could be found to be highly elastic as more options find their way in as it gives consumers ample time to look at, switch over to and adjust to other options thus making demand highly elastic.
text: In the long run, firms can make all sorts of adjustments so elasticity is elastic.
text: Elasticity can be perfectly inelastic or perfectly elastic or anywhere in between; however, the two extremes rarely occur in the real world.