Question

explain elasticity of demand less than unity ​

Answer 1

Explanation:

Explanation:It is also known as relatively elastic demand. ADVERTISEMENTS: If, however, the change in demand is less than proportionate to the change in price, price elasticity of demand is less than unity. When a 20% change in price causes 10% change in demand, then Ep – 10%/20% = 1/2= < 1, in Panel (C), i.e. ∆q/∆ p<1.

Explanation:It is also known as relatively elastic demand. ADVERTISEMENTS: If, however, the change in demand is less than proportionate to the change in price, price elasticity of demand is less than unity. When a 20% change in price causes 10% change in demand, then Ep – 10%/20% = 1/2= < 1, in Panel (C), i.e. ∆q/∆ p<1. please mark me as brainelist

Answer 2

Answer:

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