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define.. relatively in elastic demand..
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Relatively Elastic Demand. When the percentage change in quantity demanded is greater than the percentage change in price, the demand is said to be elastic. Or. In other words, relatively small changes in price cause relatively large changes in quantity.
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✨ Relatively in elastic means that relatively small changes in price cause relatively large changes in quantity. In other words, quantity is very responsive to price. More specifically, the percentage change in quantity is greater than the percentage change in price.✨
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