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    How Would Price Elasticity Of Demandbe Of Interest To A Housing Developer?

    How would price elasticity of demandbe of interest to a housing developer?

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    Tweety20

    Well price elasticity of demand is defined as the change in price of a good due to change in its demand. Well for a house developer if the demand for houses is high the price will automatically increase meaning he would build more houses. Furthermore due to demand of cement, bricks and paint increasing the price would also increase leading to more costs for the house developer. Due to this he may build smaller or fewer houses. Price elasticity of demand plays a vital role in determining everyday activities.

    answered 4 months ago   

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