Economy, asked by prateekdhupar045, 1 month ago

what is the price elasticity of demand if due to 20% increase in price demand decreased by 10% 1marks

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Answered by DakshRaj1234

0

Answer:

Understanding Price Elasticity of Demand. Economists have found that the prices of some goods are very inelastic. That is, a reduction in price does not increase demand much, and an increase in price does not hurt demand either. For example, gasoline has little price elasticity of demand.

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