Condo sales numbers in and around Toronto have taken a drastic tumble so far this year, and now that the market is starting to lean towards buyers …

  • HappycamperNZ@lemmy.world
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    6 months ago

    Correct- essentials tend to be inelastic.

    They may have the incorrect belief that elasticity is the ability to absorb a price change, rather than how much Q changes when hit with a change in P