Question

Should the negative sign be included while computing Price Elasticity of Demand?


If Yes, Why?

If No, then also say why so?​

Answer 1

Since the Law of Demand is true, a change in price means a change in quantity in the opposite directs. This means price elasticity of demand will always be a negative number. Because it's always negative, we drop the minus sign (by convention) and use the unsigned number (the absolute value) instead.