Discuss the concept of Elasticity of demand. - Biz Stack

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Monday, November 20, 2017

Discuss the concept of Elasticity of demand.


Elasticity of demand:
Elasticity measures the degree of responsiveness. Elasticity of demand measures the degree of responsiveness of quantity demand.
According to Prof. Lipsey, "Elasticity of demand is the percentage change in quantity demanded divided by percentage change in price."
                                      

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Tamanna Tama
“You have to be burning with an idea, or a problem, or a wrong that you want to right. If you're not passionate enough from the start, you'll never stick it out.”
― Steve Jobs

Newer Article Different types of Elasticity of Demand. Older Article Distinguish between a change in demand and change in quantity demanded.
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