Price elasticity of demand has ............ degrees
Answers
Answered by
1
Answer:
Elasticity of demand indicates the degree of responsiveness of quantity demanded to changes in market price. Hence this becomes the concept of price-elasticity of demand. Different commodities have different price elasticities. Some commodities have more elastic demand while others have relative elastic demand.
Answered by
0
Answer:
DEGREES OF PRICE ELASTICITY
Basically, the price elasticity of demand ranges from zero to infinity. It can be equal to zero, less than one, greater than one and equal to unity.
Similar questions