Question

explain diagrammatically five degrees of prices elastic of demand​

Answer 1

The demand is said to be unitary elastic when a given proportionate change in the price level brings about an equal proportionate change in quantity demanded. ... This demand curve is called rectangular hyperbola. When price is OP, the quantity demanded is OQ\. Now price falls to OP1 the quantity demanded increases to OQ2.

Answer 2

Explanation:

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