Elasticities

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  • Created by: meloakes
  • Created on: 28-03-15 16:55

Price elasticity of Demand

Price elasticity of demand is the responsiveness of the quantity demanded of a product to a change in price. 

A negative sign shows that the QD is responsive to a change in price. 

Between 0 and 1 shows that it is inelastic

1 and above means that it is elastic

1 of 1

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