Economy, asked by bodakeshruti3428, 4 months ago

4. Elasticity of demand explains that one variable is influenced by another variable

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Answered by Anonymous

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Answered by mihirrout46

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Answer:

ELASTICITIES. Elasticity, as it is used in economics, refers to the response of a "dependent" variable to changes in the "independent" variable. A good way to remember this is that the "dependent" variable depends upon the "independent" variable. One can construct an elasticity for any two variables that are related.

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