Your friends introduce you to Jane, who they have described as creative, intelligent, and very detail-oriented. After meeting Ja
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<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=