Economy, asked by sheshnathbeldar, 2 months ago

an elasticity of 1 means that​

Answers

Answered by asrajawat4998
0

Answer:

the number is equal to 1, elasticity of demand is unitary. In other words, quantity changes at the same rate as price. Elasticity of demand is illustrated in Figure 1. Note that a change in price results in a large change in quantity demanded.

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