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unit-4-demand-function-and-elasticity

Unit-4 Demand Function and Elasticity

In this unit we will be focussing on the consumer’s demand function for a good .

For the following table determine price elasticity when price rises from Rs. 7 to Rs. 8?




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Learning Pundits Content Team

Written on Jun 26, 2019 6:15:13 PM

ε11 = 0.338 Price elasticity less than unity, demand is inelastic