What is meant by increase in demand? Discuss any four factors affecting elasticity of demand.

  • matematika

    Subject:

    Math

  • Author:

    guy38

  • Created:

    1 year ago

Answers 1

Answer:

The four factors that affect price elasticity of demand are (1) availability of substitutes, (2) if the good is a luxury or a necessity, (3) the proportion of income spent on the good, and (4) how much time has elapsed since the time the price changed. If income elasticity is positive, the good is normal.

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Step-by-step explanation:

First, find the volume of 1 notebookV = l x b x h => 10*6*5 = 300Now, multiply the volume of 1 book with 12 (as we need volume of 12 books)300*12 = 3600

Step-by-step explanation:

lenth=10 cm

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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