Question

what is meant by price elasticity of demand?How can we measure it with percentage method​

Answer 1

Answer:

Price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price. It is computed as the percentage change in quantity demanded (or supplied) divided by the percentage change in price.

Explanation:

Answer 2

Answer:

price elasticity of demand refers to the degree of change in quantity demanded of a commodity to a change in the price of that commodity.