Explain the term relatively inelastic demand
Explain the term relatively inelastic demand.
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Relatively inelastic demand:
Now there quantity demanded changes less than proportionate to variation in price. A huge change in price leads to small change within demand. In SUCH case demand curve will be steeper as well as ep<1.
Hello, Would you please find a small case study in managerial economics. please I don't want the typical solution because the prof have it. thanks
answer written below is correct for the question detail exception of demand curve ?
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