What is price elasticity of demand
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Posted by Vishal Ahirwar 6 years, 11 months ago
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Yogita Ingle 6 years, 11 months ago
Now as mentioned earlier, the elasticity of demand measures how factors such as price and income affect the demand for a product. Price elasticity of demand measures how the change in a product’s price affects its associated demand. Now you can measure the price elasticity of demand (PED) mathematically as follows:
Price Elasticity of Demand (PED) = % change in quantity demanded / % change in price
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