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Define price elasticity?
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Define price elasticity?
The price elasticity of demand measures the degree of responsiveness of the demand for a good to the change in its price. It is defined as the ratio of percentage change in the demand for a good to the percentage change in its price.
Community Answer
Define price elasticity?
Quantity demanded of a good or service to a change in its price.
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Define price elasticity?
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Define price elasticity? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Define price elasticity? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Define price elasticity?.
Define price elasticity? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Define price elasticity? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Define price elasticity?.
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