Question

what is the significance of negative sign in elasticity of demand? pls answer fast its urgent

Answer 1

Answer:

As we know that Law of demand says that there exists an inversely between price and quantity demanded i.e. other things remaining constant, as the price falls, the quantity demanded of the commodity rises and vice versa. Hence the negative or minus sign is attached to the formula of price elasticity of demand.

Answer 2

Answer:

The Law of demand states that there exists an inverse relationship between price and quantity demanded i.e. other things remaining constant, as the price falls, the quantity demanded of the commodity rises and vice versa. Hence the negative or minus sign is attached to the formula of price elasticity of demand.

Explanation:

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