Respuesta :
The percentage change in a price divided by the percentage change in quantity required is known as price elasticity of demand.
What does the demand elasticity quizlet ask?
A significant change in price results in a negligible change in the quantity sought when a product is largely price inelastic. When price and total revenue vary in opposition to one another, the price elasticity of demand is greater than one, or "elastic."
The percentage change in demand divided by the percentage change in price is defined as what?
Price elasticity measures how responsive the supply and demand for a good are to price changes. It is computed by multiplying the percentage change in quantity demanded—or delivered—with the percentage change in price.
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