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What is price elasticity demand?

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What is price elasticity demand?

Posted by Smrita Dutta 5 years, 3 months ago

CBSE > Class 11 > Economics

3 answers

Gaganjot Kaur 5 years, 3 months ago

Price elasticity of demand of s the study of degree of change in demand in response to change in own price of the commodity. Therefore it is study of change and is denoted by Ed.

Kavya Kanishka 5 years, 3 months ago

Price elasticity of demand, or elasticity, is the degree to which the effective desire for something changes as its price changes. In general, people desire things less as those things become more expensive

Yogita Ingle 5 years, 3 months ago

The degree of responsiveness of quantity demanded to changes in price of commodity is known as price elasticity of Demand.

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