Practicing Success
There were 2 kids who were discussing price elasticity of demand. |
Garv is correct Adhyayan is correct Both are correct No one of them is correct |
Both are correct |
Price elasticity of demand measures the degree of responsiveness of the quantity demanded of a commodity to the change in price of the good. It is measured as: Ped = \(\frac{\text {% change in quantity demanded}}{\text {% change in price }}\) |