Economy, asked by mehakjotkaur24, 9 months ago

explain unit elastic demand and perfectly elastic demand

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Answered by Anonymous

9

Answer:

The PED is the percentage change in quantity demanded in response to a one percent change in price. ... Demand for a good is relatively elastic if the PED coefficient is greater than one (in absolute value). Demand for a good is unit elastic when the PED coefficient is equal to one.

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