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Glossary > P > "Price Elasticity of Demand" Definition

Price Elasticity of Demand

A measure of the responsiveness of the quantity demanded of a good to a change in its price. It is calculated as:

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Price Elasticity of Demand - A measure of the responsiveness of the quantity demanded of a good to a change in its price. It is calculated as:

Price Elasticity of Demand : a measure of the responsiveness of the quantity demanded of a good to a change in its price. it is calculated as: