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How os price elasticity of demand …

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How os price elasticity of demand of a commodity is affected by the number of its substitutes

    • Posted by Rohit Dugar 7 years, 10 months ago

    CBSE > Class 12 > Economics
    • 1 answers

    Mikun Mk 7 years, 10 months ago

    Price elasticity of demand will be more elastic (ed>1) due to existence of large no. Of substitutes this is because if the price of one commodity increases consumer will have choice to buy another commodity. Eventually change in demand is less than change in price and ed will greater than one.

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