Question

If as a result of change in price of commodity, there is no change in the demand of the commodity, then the demand of that commodity is said to be:​

Answer 1

Answer:

Elasticity of Demand measures the percentage change in the quantity of a good demanded with respect to change in its price. Thus, in this case, the elasticity of demand is zero (or E

d

=0) because change in price causes no change in demand

Answer 2

Answer:

If as a result of change in price of commodity, there is no change in the demand of the commodity, then the demand of that commodity is said to be Elasticity of demand.

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