Demand
| Coefficient
| Illustration
| Examples
|
Infinitely (perfectly) elastic
| |Edp|=∞
|
| Diamands, goods on perfect competitive market
|
Elastic
| |Edp|>1
|
| Most goods in long term, also durable goods (automobile, TV set, frige etc.)
|
Unitary
| |Edp|=1
|
| Any good with the same reaction of both price and quantity demanded
|
Inelastic
| 0<|Edp|<1
|
| Most goods in short term, also nondurable (food, services etc.)
|
Completely Inelastic
| |Edp| =0
|
| Water, medicine for ill person, drugs for drug taker
|