what is the elasticity of demand for perishable goods??
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The elasticity of demand for perishable goods is relatively inelastic as they have to be consumed earlier and there use cannot be postponed due to their nature of perishability.
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Pricing of different types of goods and materials is one of the most important part of any particular economical environment.
The term "Elasticity of demand" means the change of demand of a particular product after changing it's price without any sort of quality change.
This elasticity of demand is both beneficial and harmful for any production company,as it can cause both positive and negative results.
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