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Answer to Question #28075 in Microeconomics for siddesh
Question #28075
if the demand of the commodity changes at faster rates than the change in the price of the commodity,the demand of the commodity will be known as ________.
Expert's answer
If the demand of the commodity changes at faster rates than the change in the price of the commodity,the demand of the commodity will be known as elastic (or relatively elastic) demand.
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