Question
Elasticity of demand measures the
Solution
The price elasticity of demand measures the responsiveness of the quantity demanded to changes in the price. Demand is inelastic if it does not respond much to price changes, and elastic if demand changes a lot when the price changes. Necessities tend to have inelastic demand.
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Who among the following lives on Floor-2?
What is position of Saina with respect to the person who study Economics?
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