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| 1. |
What is meant by highly elastic demand ? |
| Answer» <html><body><p></p>Solution :When <a href="https://interviewquestions.tuteehub.com/tag/percentage-13406" style="font-weight:bold;" target="_blank" title="Click to know more about PERCENTAGE">PERCENTAGE</a> change in the quantity demanded is more than the percentage change in <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>, then demand for such a <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> is said to be highly elastic .</body></html> | |