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In this video, Mrs. Shikha Duggar explained about Elasticy of Demand in which demand is the quantity demanded on a particular place on a particular and Elasticy is the change in price. Its formula is the change in the quantity demanded to the original quantity upon change in price to the original price. It’s of four types, perfectly elastic demand, and highly elastic demand, unitary elastic, perfectly inelastic and Highly Inelastic demand.
