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| 1. |
Explain price elasticity of demand |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> Elasticity of Demand <a href="https://interviewquestions.tuteehub.com/tag/means-1091780" style="font-weight:bold;" target="_blank" title="Click to know more about MEANS">MEANS</a> the degree of responsiveness of demand for a commodity with <a href="https://interviewquestions.tuteehub.com/tag/reference-1181544" style="font-weight:bold;" target="_blank" title="Click to know more about REFERENCE">REFERENCE</a> to <a href="https://interviewquestions.tuteehub.com/tag/change-913808" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGE">CHANGE</a> in the price of such commodity. It is measured as: <br/> Price Elasticity of Demand `(E_(d))= ("percentatge change in Quantity <a href="https://interviewquestions.tuteehub.com/tag/demanded-7675308" style="font-weight:bold;" target="_blank" title="Click to know more about DEMANDED">DEMANDED</a>")/("percentage Change in price")`</body></html> | |