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]] | [[category:economics]] | ||
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| + | == See Also == | ||
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| + | [[Elastic Demand]] | ||
| + | [[Inelastic Demand]] | ||
Revision as of 15:06, May 17, 2007
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.