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What is the price elasticity of demand?
It is the Defining and Measuring Elasticity.
The price elasticity of demand is the ratio of the percent modification into the quantity demanded to the percent change into the price as
we shift along the demand curve.
Price elasticity of demand = (% change in quantity demanded)/(% change in price)
An advantage of observing statistics from this range is that it encapsulates both positive and negative performances of the economy helping to produce a much more accurate insight
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