Economy, asked by mailnishjana0206, 1 month ago

The quantity demanded does not respond to price change and so the elasticity is –

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Answered by bhamaresanika2002

Answer:

The price elasticity of demand measures the sensitivity of the quantity demanded to changes in the price. Demand is inelastic if it does not respond much to price changes, and elastic if demand changes a lot when the price changes. Necessities tend to have inelastic demand.

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