Question

heya..

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heya..

define.. relatively in elastic demand..

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Answer 1

 

ʜᴇʏᴀ..

ʜᴇʀᴇ ɪs ᴜʀ ᴀɴsᴡᴇʀ 

ᴀ ᴘʀᴏᴘᴏʀᴛɪᴏɴᴀᴛᴇ ᴄʜᴀɴɢᴇ ɪɴ ϙᴜᴀɴᴛɪᴛʏ ᴅᴇᴍᴀɴᴅᴇᴅ ɪɴ ʟᴇss ᴛʜᴀɴ ᴀ ᴘʀᴏᴘᴏʀᴛɪᴏɴᴀᴛᴇ ᴄʜᴀɴɢᴇ ɪɴ ᴘʀɪᴄᴇ..

ɪ ʜᴏᴘᴇ ɪᴛs ʜᴇʟᴘ ᴜ 

 

Answer 2

Answer:

• Relatively 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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