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What is ment by price elasticity …

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What is ment by price elasticity of demand?explain any two factors taht effect it.

    • Posted by Kritika Kumari 6 years, 4 months ago

    CBSE > Class 11 > Economics
    • 2 answers

    Balwinder Dhaula 6 years, 3 months ago

    Nature of commodity : necessaries like salt have inelastic demand .luxuries like:air conditioners have elastic demand. Time period :demand is inelastic in short period ,elastic in long period .

    0Thank You

    Balwinder Dhaula 6 years, 3 months ago

    Price elasticity of demand is a measurement of degree of change in demand when own price of commodity changes

    0Thank You

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