माँग की लोच Introduction परिचय The degree to which demand responds to changes in price is known as demand elasticity (Price Elasticity of Demand). Elasticity of demand is defined as the ratio of the percentage change in demand to the percentage change in price, according to Prof. Lipsey. The definition offered by Mrs. Robinson is more precise: “The elasticity of demand at any price is the proportional change in amount purchased in response to a small change in price, divided by the proportional change in price.” Therefore, the ratio of a change in the amount demanded to a change in …
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