Explain the meaning of elasticity of demand

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Suppose15 percent increase in the price of airlines causes a 10 percent decline in the quantity demanded,

What is the elasticity of demand for airlines?

Reference no: EM13199255

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Explain the meaning of elasticity of demand : Suppose15 percent increase in the price of airlines causes a 10 percent decline in the quantity demanded then what is the elasticity of demand for airlines.

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