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What is the price elasticity of demand?
It is the Defining and Measuring Elasticity.
The price elasticity of demand is the ratio of the percent modification into the quantity demanded to the percent change into the price as
we shift along the demand curve.
Price elasticity of demand = (% change in quantity demanded)/(% change in price)
Concept of Preference, Utility Function: Concept of Preference, Utility Function and Indifference Curve Consumer preference ('R') specified by the above axioms can be represe
circular flow of national income?
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