Elasticity on the Legal Demand

Elasticity on the legal demand contains two types, such as price elasticity and cross-elasticity. Price elasticity is the percentage change in the demand for a legal system due to changes in their net income, including elastic, inelastic, unit elastic, perfectly elastic and completely non-elastic. Cross-elasticity of legal demand refers, in the degree of legal reaction at other factors held constant, to a change in the legal system needs to choose an alternative to the legal system or the legal system of complementary changes. Bankruptcy Reconciliation can comment as a legal requirement of good elasticity theory.