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 ...

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 …

  • BenGFHC
    6•7 months ago

    Isn’t it inelastic (D changes at a less than proportional rate to price) or have I got it mixed up?

    • @[email protected]
      7•7 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