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Question
Distinguish between Percentage method and Total outlay method.
Solution
Percentage method and Total outlay method.
| Basis of Difference | Percentage method | Outlay method |
| Measures | Ratio of percentage change in quantity demanded to the percentage change in price | Measures how the total expenditure or total outlay incurred on the good changes with a change in its price |
| Also known as | Arithmetic method | Total expenditure method |
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