Meaning of price elasticity of demand
Price elasticity of demand
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Economics terminology
Glossary of economics terms and concepts
Meaning and definition of price elasticity of demand
The ratio of the percentage change in quantity demanded of a product or resource to the percentage change in its price, a measure of the responsiveness of buyers to a change in the price of a product or resource.
For the term price elasticity of demand may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be used for medical and legal or special purposes.
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Price elasticity of demand
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