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Price Elasticity of Demand is the responsiveness of a good to changes in price. More specifically, it is the percentage change in quantity demanded divided by the percentage change in price: %∆Q/%∆P.
Price Elasticity of Demand is the responsiveness of a good to changes in price. More specifically, it is the percentage change in quantity demanded divided by the percentage change in price: %∆Q/%∆P.
[[category:economics]]
[[category:economics]]
== See Also ==
[[Elastic Demand]]
[[Inelastic Demand]]