Economy, asked by MohitDewara5268, 7 months ago

Define the price elasticity of demand. What are the factors determining the price elasticity of demand (Any three)? If the demand for apples is 50 kgs at Rs. 40 per kg, calculate the price elasticity of demand for apples, if demand falls to 40 kgs due to the rise in price to Rs. 50.

Answers

Answered by koushikmkj

0

Answer:

The degree of responsiveness of quantity demanded to changes in price of commodity is known as price elasticity of demand.

Explanation:

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