Economy, asked by ramidarkim, 4 months ago

How does the level of a good affect the price elasticity of demand?Explain​

Answers

Answered by nileshdhankani
6

Answer:

Proportion of consumer's income that is spent on a particular commodity also influences the elasticity of demand for it. Greater the proportion of income spent on the commodity, more is the elasticity of demand for it and vice-versa.

Explanation:

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