Economy, asked by ishadhakad235, 7 months ago

what do u mean by elasticity if demand​

Answers

Answered by kanisharchueck
0

hiiiiiiii..

here is the answer...

Price elasticity of demand is a measure of the responsiveness of consumers to a change in a product's cost. ... So, if the price elasticity of demand is being measured, the formula would be the percentage of change in the quantity in demand divided by the percentage change in price.

please mark brainliest...

Answered by atharvkumar14
0
Elasticity is the degree of responsiveness of change in quantity demanded to change in price.

Suppose if price changes by 1 unit then elasticity will tell by how many units should quantity demanded be changed
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