Chemistry, asked by Warhero6970, 4 days ago

What is relatively elastic?

Answers

Answered by priyabhogayata07

Answer:

Relatively elastic demand refers to the demand when the proportionate change produced in demand is greater than the proportionate change in price of a product.

For example, if the price of a product increases by 20% and the demand of the product decreases by 25%, then the demand would be relatively elastic.

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