Economy, asked by mozocreation1816, 4 months ago

Explain Elasticity of Demand and their types in detail

Answers

Answered by IISLEEPINGBEAUTYII

Answer:

Price Elasticity is the responsiveness of demand to change in price; income elasticity means a change in demand in response to a change in the consumer's income; and cross elasticity means a change in the demand for a commodity owing to change in the price of another commodity.

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