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Give the meaning of elasticity of demand.

+3 votes

asked Oct 24, 2018 in Class 12 by kratos

Give the meaning of elasticity of demand.

class-12
demand analysis

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1 Answer

+6 votes

answered Jan 15, 2021 by kratos

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Elasticity of demand is generally defined as the responsiveness or sensitiveness of demand to a given change in the price of commodity.

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