Economy, asked by sherylannaanil, 6 months ago

Why should change in Quantity and Price be considered as
'Percentage' Change?

Answers

Answered by sup271

7

Answer:

Explanation:

Elastic demand or supply curves indicate that quantity demanded or supplied respond to price changes in a greater than proportional manner. An inelastic demand or supply curve is one where a given percentage change in price will cause a smaller percentage change in quantity demanded or supplied.

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