Difference between revisions of "Price Elasticity of Demand"
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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]] |
| − | == See | + | == See also == |
[[Elastic Demand]] | [[Elastic Demand]] | ||
[[Inelastic Demand]] | [[Inelastic Demand]] | ||
Latest revision as of 17:49, July 13, 2016
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.