Economy, asked by Ranjaneshree5701, 1 year ago

Explain inelastic demand and pricec elastic demand 12class

Answers

Answered by Anonymous

Hey mate.....

Inelastic demand...refers to a situation when % change in Quantity demanded is less than % change in price of commodity....
Ed<1.....

Elastic demand....when the % change in Quantity demanded is more than % change in price of the commodity..
Ed>1...

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