Question

what is price elasticity of demand? how can it measured?​

Answer 1

Answer:

The price elasticity of demand is measured by its coefficient Ep. This coefficient Ep measures the percentage change in the quantity of a commodity demanded resulting from a given percentage change in its price.

Explanation:

Thus. Where q refers to quantity demanded, p to price and ∆ to change. If Ep> 1, demand is elastic.

Answer 2

Explanation:

• The price elasticity of demand is measured by its coefficient Ep. This coefficient Ep measures the percentage change in the quantity of a commodity demanded resulting from a given percentage change in its price: Thus. Where q refers to quantity demanded, p to price and ∆ to change. If Ep> 1, demand is elastic.