Home EducationSubjectsBusiness Studies Subscribe to RSS

Can You Write Short Note On The Elasticity Of Demand?

Elasticity Of Demand

Answer Question

1 Answer - Sort by: Date | Rating

    Elasticity of demand is used to measure the effect of price on quantity demanded. The law of demand states that the demand increases with increase in price and decrease with decrease in price. Elasticity of demand equals the percentage change in quantity demanded divided by percentage change in price. Elastic demand is a small change in price with a large effect on demand. This occurs when the consumes have more buying options.
    0 0

    Saphira  

    answered 2 years ago

      More

         
         

        Ask a Question via Twitter

        Send a question to @askblurtit and we will publish it online and send you a reply everytime you receive an answer.

        Blurtit Store

        Get T-shirts, hoodies, caps and more at the Blurtit store

        Blurtit International