# data[].attributes.body
The quantity demanded of a given good is sensitive to changes in price.
Example: Luxury automobiles

# data[].attributes.body
P1=$10 ,P2=$8
Q1=30, Q2=50
When the price decreases from $10 per unit to $8 per unit, the quantity sold increases from 30 units to 50 units.
Elasticity of demand=(Q1_Q2)/(Q1+Q2)/(P1_P2)/(P1+P2)= 2.25
2.25>1 (Elastic demand)

# data[].attributes.body
When the price goes up, consumers buying habits stay about the same, and when the price goes down, consumers buying habits also remain unchanged.
Example: Gasoline and milk.

# data[].attributes.body
Elasticity of demand= 1% (Unitary Elastic)
Unitary Elastic: a given percentage change in price leads to an equal percentage change in quantity demanded.

# data[].attributes.body
Means that the given percentage change in price leads to an equal percentage change in quantity demanded.

# data[].attributes.body
P1=$12 ,P2=$6
Q1=40, Q2=50
When the price decreases from $12 to $6, the quantity demand increases from 40 to 50.
Elasticity of demand=(Q1_Q2)/(Q1+Q2)/(P1_P2)/(P1+P2)= 0.33
0.33<1 (Inelastic demand)