Economy, asked by nikitapandey0708, 8 months ago

explain the total outlay method of measuring elasticity of demand? please help me give correct answer

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Answered by Hitesh072006

8

Answer:

Explanation: Total outlay method, also known as total expenditure method of measuring price elasticity of demand was developed by Professor Alfred Marshall. According to this method, price elasticity of demand can be measured by comparing total expenditure on a commodity before and after the price change.

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