Chinese, asked by sivajithanikonda, 6 months ago

Elasticity of demand explains the responsiveness of demand for a change in one of the

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Answered by AyushSingh2003

Answer:

One percent change in price of the commodity .

Answered by cupcake77

Answer:

If the quantity demanded of a product exhibits a large change in response to changes in its price, it is termed "elastic," that is, quantity stretched far from its prior point. ... On the other hand, the less discretionary a good is, the less its quantity demanded will fall

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Elasticity of demand explains the responsiveness of demand for a change in one of the​

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Elasticity of demand explains the responsiveness of demand for a change in one of the