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Radda [10]
2 years ago
5

What is elasticity of demand?

History
1 answer:
Alja [10]2 years ago
8 0
View all

Price elasticity of demand is a measure used in economics to show the responsiveness or elasticity, of the quantity demanded of a good or service to a change in its price when nothing but the price changes. ... Revenue is maximised when price is set so that the PED is exactly 

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