Economy, asked by Advered4277, 11 months ago

What is elasticity of demand? Explain different types & degrees of elasticity of demand.

Answers

Answered by liza10987654321

The Elasticity of Demand measures the percentage change in quantity demanded for a percentage change in the price. Simply, the relative change in demand for a commodity as a result of a relative change in its price is called as the elasticity of demand.

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