Numerical Questions Price of a commodity increases from 10 to 12 as – InterviewSolution

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1.	Numerical Questions Price of a commodity increases from 10 to 12 as aresult of which supply gets increased from 35 to 42Calculate the elasticity of supplyAns. e. = 1
Answer» HEY mate there is your answerExplanation:QUESTION 1. Explain price elasticity of demand.Answer: The degree of responsiveness of QUANTITY DEMANDED to changes in price of commodity is known as price elasticity of demand.

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