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Price elasticity of demand for two …

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Price elasticity of demand for two goods X and Y are 0 and -1 which of the two goods is more elastic and why ?

    • Posted by Bhimji Madhaparia 7 years, 11 months ago

    CBSE > Class 12 > Economics
    • 2 answers

    Yash Gupta 7 years, 11 months ago

    Good Y with ed=1 because ed=0 means that good X is perfectly inelastic i.e. not effected by chane in price

    0Thank You

    Pari Jain 7 years, 11 months ago

    I think -1 becoz here the negative sign only shows inverse relationship between price and quantity demanded not the negative value

    0Thank You

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