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Define elasticity of demand and explain …

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Define elasticity of demand and explain with the help of graph for each of elastic demand

Posted by Aditi Shrivastava 7 years, 1 month ago

CBSE > Class 11 > Economics

1 answers

Chesta Pawan Manchanda 7 years, 1 month ago

Elasticity of demand means change in demand due to change in price of the commodity and income of consumer. There are five cases of elasticity perfectly elastic, imperfect elastic, greater than 1, lower than one and elasticity is equal to one. These graph you can easily find in your book.

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