​Unit:03             Elasticity of Demand & It’s Measurement

                 The proportionate change in quantity demand of commodity with respect to the proportionate change in it’s determinants  is elasticity if demand . The elasticity of demand help us to determine  the proportionate change in it’s various affecting factors(price, income,season,culture etc.). mathematically:

              The elasticity of demand is categorized under three branches, which are mentioned below:

A)Price elasticity of demand 

B)Income elasticity of demand 

C)Cross elasticity of demand


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