Explain types of elasticity demand
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There are different types of price elasticity of demand i.e. 1) perfectly elastic demand, 2) perfectly inelastic demand, 3) relatively elastic demand, 4) relatively inelastic demand, and 5) unitary elastic demand. Income is one of the factors that influence the demand for a product.
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There are different types of price elasticity of demand i.e. 1) perfectly elastic demand, 2) perfectly inelastic demand, 3) relatively elastic demand, 4) relatively inelastic demand, and 5) unitary elastic demand. Income is one of the factors that influence the demand for a product.
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