Economy, asked by shaikhfirdous11, 3 months ago

2. Define price elasticity of demand ?
Explain types of elasticy of demand

Answers

Answered by Itzmissprincess

Answer:

Measurement of Price Elasticity. The elasticity of demand refers to the responsiveness of the demand due to the change in the determinants of the demand. There are three types of elasticity of demand viz. price elasticity of demand, the income elasticity of demand and cross elasticity of demand.

Previous Question

Next Question

Similar questions

Science, 1 month ago

whats meaning of bioluminescence?

Biology, 1 month ago

Aerobic degradation of an organic compound by a mixed culture of organisms in waste watercan be represented by the following reaction.C3H6O3+ a O2+ b NH3→C5H7NO2+ d H2O + e CO2a. Determine a, b, c, d, and e, if YX/S= 0.4 g X/g S. b. Determine the yield coefficients YX/O2and YX/NH3.c. Determine the degree of reductions for the substrate, bacteria, and RQ for the organisms...

Physics, 1 month ago

When a moving bus stops suddenly, the standing passengers tends to fall forward. this is inertia of rest or motion...

Geography, 3 months ago

भारतातील भूकंप प्रवण क्षेत्रांचे वर्गीकरण प्रदेश जोखमीची पातळी केंद्रशासित प्रदेश/राज्य १ अतिशय कमी 7 २ कमी ३ मध्यम X उच्च ५ अति उच्च...

Sociology, 3 months ago