Tuesday, June 4, 2019
Importance of Elasticity Demand
Importance of Elasticity DemandPrice Elasticity of Demand (PED) measures the percentage motley in the price of a product, to the percentage change of demand for that same product. It is measured through varying degrees of elasticity. An inelastic good means that a change in price will have a very little effect on the demand. Due to PED=%?Q / %?P, inelastic goods have a PED
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