price elasticity of demand
(Ed)A function of demand for which as the price increases or decreases, the demand of the product changes.
Ed=abs(%change in quantity demanded/%change in price).
inelastic<1.
unit elastic=1.
perfectly inelastic demand=0.
perfectly elastic=infinity.
0
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Creador
- Timmwilson
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(Bronze) 187 puntos - 100% positive feedback
(Beijing, China)
