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When the proportional change in the demand of a commodity is less than the proportional change in the price of that commodity then?1 Answer. Price elasticity of demand will be less than unity (Ed>1) ( E d > 1 ) as proportionate change in demand is less than proportionate change in price.
When the proportionate change produced in demand is greater than the proportionate change in price of a product?Relatively elastic demand refers to the demand when the proportionate change in the demand is greater than the proportionate change in the price of the good. The numerical value of relatively elastic demand ranges between one to infinity.
When change in demand for a commodity is greater than change in price of the commodity the demand is said?If the demand changes at faster rates than the change in price of the commodity. The demand of the commodity is called perfectly elastic.
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When the proportional change in the demand of a commodity is greater than the proportional change in the price of that commodity then?
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