Question

what is price elasticity of demand?????​

Answer 1

$\huge{\mathcal{\purple {A}\green{N}\pink{S}\blue{W}\purple {E}\green{R}\pink{!}}}$

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.