Elasticity of demand of a commodity refers to the degree of a responsivenes of demand for a commodity towards
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Elasticity of demand of a commodity refers to the degree of a responsivenes of demand for a commodity towards
We can say that elasticity of demand refers to the degree of responsiveness of quantity demanded of a commodity to change in any of its determinants, viz. price of the commodity, prices of other commodities and income of the consumers.
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