Question : ______is one of the methods of measuring Elasticity of Demand?
A: Total outlay method
B: Percentage method
Option 1: Only A is correct
Option 2: Only B is correct
Option 3: Both are correct
Option 4: None of the above
Answer (1)
10th Jan, 2024
Correct Answer: Both are correct
Solution :
One way to gauge the elasticity of demand is by total outlay, often known as the total expenditure approach.
There are four ways to calculate demand elasticity. They are the percentage method, point method, arc method, and expenditure method.
Hence option c is the correct answer.
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