When demand is elastic price elasticity of demand is?

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asked Sep 11, 2024 118k views

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Jekin Kalariya · Answer 1 · 2024-09-15T14:50:25+0000

Answer:

greater than 1

Step-by-step explanation:

Demand is elastic when the percentage change in the quantity demanded is greater than the percentage change in price, so the price elasticity is greater than 1 in absolute value.

When demand is elastic price elasticity of demand is?

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