a simple defination of elasticity of demand ?
Answers
Answered by
1
Answer:
Price elasticity of demand is a measure of the responsiveness of consumers to a change in a product's cost. ... So, if the price elasticity of demand is being measured, the formula would be the percentage of change in the quantity in demand divided by the percentage change in price
Explanation:
HOPE IT WILL HELP YOU......
THANK YOU❤❤❤❤
Answered by
7
Answer:
“Elasticity of demand is the responsiveness of the quantity demanded of a commodity to changes in one of the variables on which demand depends"
Similar questions