Anusha3004 Anusha3004

27-05-2021
Business

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What is the difference between elastic and inelastic demand? Give 5 points?

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bts150160 bts150160

27-05-2021

Explanation:

Elastic demand means there is a substantial change in quantity demanded when another economic factor changes )

inelastic demand means that there is only a slight (or no change) in quantity demanded of the good or service when another economic factor is changed.

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