Economy, asked by srivarshinikanagaraj, 2 months ago

price elasticity of demand of good X is -2 and of good Y is -3 which of the good is more price elastic and why? ​

Answers

Answered by Anonymous
1

The good with elasticity = (-)3 is more price elastic. This is because, with the change in Quantity Demanded, the price of this good will respond quicker, than the good with elasticity (-)2.

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