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Brilliant_brown [7]
3 years ago
10

Price elasticity of demand is (-) 4. By what percentage the quantity

Social Studies
1 answer:
skad [1K]3 years ago
8 0

Answer:

=200

Explanation:

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Price elasticity of demand is defined as: Group of answer choices the slope of the demand curve. the slope of the demand curve d
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Answer:

<h3>the percentage change in quantity demanded divided by the percentage change in price.</h3>

Explanation:

  • The basic feature of price elasticity of demand is to indicate that elasticity of demand of a good or a service change according to the change in the price of the good or the service.
  • The price elasticity of demand measures the consumers' behavior of quantity demanded to a change in price. It is the percentage change in quantity demanded divided by the percentage change in price.
  • Symbolically, it can be written as:

        Elasticity of demand= \frac{Percentage change in quantity demanded}{Percentage change in price}

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