Question

what is Price elasticity of demand????​

Answer 1

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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.

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.