Question

introduction of price elastic of demand​

Answer 1

Answer:

Mathematically, price elasticity of demand is equal to the percent change in the quantity demanded of a good or service divided by the percent change in the price of the good or service that generated the change in quantity demanded.

Answer 2

Price elasticity of demand is an economic measure of the change in the quantity demanded or purchased of a product in relation to its price change. Expressed mathematically, it is: Price Elasticity of Demand = % Change in Quantity Demanded / % Change in Price.The symbol η represents the price elasticity of demand. The symbol Q0 represents the initial quantity demanded that exists when the price equals P0. The symbol Q1 represents the new quantity demanded that exists when the price changes to P1.good's price elasticity of demand is a measure of how sensitive the quantity demanded of it is to its price. When the price rises, quantity demanded falls for almost any good, but it falls more for some than for othersMathematically, price elasticity of demand is equal to the percent change in the quantity demanded of a good or service divided by the percent change in the price of the good or service that generated the change in quantity demanded.