16 PRICE ELASTICITY OF DEMAND - National Institute of …

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Elasticity of demand means degree of responsiveness of demand. Demand for a commodity responds to change in price, price of related goods, income etc. So, we have three dimensions of elasticity of demand: Notes 65 Price Elasticity of Demand ECONOMICS MODULE - 6 Consumer's Behaviour

  Demand, Recip, Elasticity, Price elasticity of demand, Of demand, Elasticity of demand, 16 price elasticity of demand