Economy, asked by mohdspb, 1 year ago

Elastic demand means

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Answered by chavichavi

Elastic demand means....The % change in Quantity demanded is greater than % change in price of the commodity... In this....Ed>1..... ....
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Answered by rachanaaagrawal22

when the rate of quantity demanded increases to a relatively small change in price then the demand is said to be an elastic demand

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