Economy, asked by anjaliroy3763, 2 months ago

write the formula of price elasticity of demand​

Answers

Answered by bikashdbiku06
1

Explanation:

We say a good is price elastic when an increase in prices causes a bigger % fall in demand. e.g. if price rises 20% and demand falls 50%, the PED = -2.5. Examples include: Heinz soup. These days there are many alternatives to Heinz soup.

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