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Answer to Question #79343 in Other Economics for Goody

Question #79343
What is price elasticity of demand?
Expert's answer
Price elasticity of demand is a measure of the change in the quantity demanded or purchased of a product in relation to its price change. Expressed mathematically, it is:
Ed = %change in quantity demanded/%change in price.
Source:
https://www.investopedia.com/terms/p/priceelasticity.asp#ixzz5MBxzyqtL

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