Economy, asked by RiyaSahal, 4 months ago

explain elastic demand

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Answered by Anonymous

2

Elasticity of demand refers to the change in demand when there is a change in another factor, such as price or income. If demand for a good or service is static even when the price changes, demand is said to be inelastic. Examples of elastic goods include luxury items and certain food and beverages.

Answered by sargamsrivastava50

1

elastic demand refers to change in demand when there is a change in other factor such as price or income

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