Economy, asked by shawdibya96, 1 month ago

If the percentage change in demand is
less than the percentage change in price
it is called as:mac

Answers

Answered by bhimacharan92

Explanation:

If Ped is between 0 and 1 (i.e. the percentage change in demand from A to B is smaller than the percentage change in price), then demand is inelastic. ... If Ped = 1 (i.e. the percentage change in demand is exactly the same as the percentage change in price), then demand is said to unit elastic.

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