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    Narmatha Balachandar
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    This is about macro economy

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    13 views1 page

    Macro 12

    Uploaded by

    Narmatha Balachandar
    This is about macro economy

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Microeconomics : Class12 Price-elasticity of demand for a good is defined as the percentage change in demand for the good divided

    by the percentage change in its price. If at some price, the percentage change in demand for a good is less than the percentage change in the price, then demand for the good is said to be inelastic at that price. If at some price, the percentage change in demand for a good is eq al to the percentage change in the price, demand for the good is said to be nitaryelastic at that price. If at some price, the percentage change in demand for a good is greater than the percentage change in the price, then demand for the good is said to be elastic at that price. Price elasticity of demand is a p re n mber and does not depend on the nits in !hich price and q antity are meas red.

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