Economy, asked by sakshitomar288, 5 months ago

explain in detail elasticity of demand?

Answers

Answered by sid5386

0

Explanation:

Elasticity. A measure of how much buyers and sellers respond to changes in market conditions / a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants. Price elasticity of demand. Measures how much the quantity demanded of a good responds to a change in price of that good.

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