Economy, asked by tanyasharma1a, 1 year ago

Price elasticity of demand of two goods A and B is (-)3 and (-) 4 respectively. Which of the two goods has higher elasticity and why?

Answers

Answered by twosword

12

The good with elasticity of (-)4 is higher elastic. It is because it's demand will change more frequently with the change in its price.

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