Elasticity of demand tells us about the: - Vidyadip

MCQ

Elasticity of demand tells us about the:

A
direction of change in quantity demanded in response to change in own price of the commodity
✓
degree of change in quantity demanded in response to change in own price of the commodity
C
absolute change in quantity demanded in response to change in own price of the commodity
D
none of these

✓

Answer

Correct option: B.

degree of change in quantity demanded in response to change in own price of the commodity

(b)

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