Price elasticity demand

If Price elasticity demand > 1, then demand responds more than proportionately to a change in price i.e. demand is elastic. For example if a 10% decrease in the price of a good leads to a 30% increase in demand. The price elasticity of demand for this price change is 3.

Luxury goods are more than unitary elastic.

supposed k AC ki price agar kam ho jaye tou iss ki demand barh jaye gi
or jitni price kam hogi demand oss sa zada barye gii

Add caption