The sensitivity of quantity sold to a percentage change in price; -%changeQ/%changeP.
A measure of the sensitivity of demand for a commodity to a change in its price. It equals the percentage change in consumption of the commodity that results from a one-percent change in its price. The greater the elasticity, the more price-sensitive the demand for the commodity.
Effect of price change on consumer demand. Measured by dividing percent change in demand by percent change in price.
The responsiveness of the quantity demanded of a good or service to changes in its price. The price elasticity of demand is the percentage change in quantity demanded divided by the percentage change in price.
The percentage change in quantity demanded resulting from a 1 percent change in price (by convention, always expressed as a positive number).
A measure of the extent to which the quantity demanded of a good changes when the price of the good changes and all other influences on buyers' plans remain the same. (p. 108)
the proportional change in quantity demanded relative to a proportional change in price.
Price elasticity of demand measures the responsiveness of a change in demand for a product following a change in its own price.
A measure of the responsiveness of quantity demanded to a price change; the percentage change in quantity demanded divided by the percentage change in price.
The change in demand relative to a change in price for a product or service.
the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good.
the percentage change in quantity demanded as a result of a 1 percent change in price
The price elasticity of demand is a measure of the responsiveness of demand to a change in price. If demand changes by more than the price has changed, we describe the good as price-elastic. If the demand changes by less than the price has changed we describe it as price-inelastic. The formula for calculating the exact figure is: Price elasticity of demand = % change in quantity demanded % change in price
The percentage change in the quantity demanded of a product divided by the percentage change in its price.
A measure of the responsiveness of the quantity demanded of a good to changes in that goods price.
A measure of the sensitivity of demand to changes in price. p. 592
Is a measure of the responsiveness of demand to a change in price. If the demand changes by more than the price has changed, we describe the good as price-elastic. If, on the other hand, the demand changes by less than the price had changed, we describe it as price-inelastic.
The percentage change in demand for a given product likely to result if its price changes by 1 percent. A slight lowering or raising of a tariff will have a larger effect on the volume of imports of a product with a high price elasticity of demand than on a product with a low price elasticity of demand.
In economics and business studies, the price elasticity of demand (PED) is an elasticity that measures the nature and degree of the relationship between changes in quantity demanded of a good and changes in its price.
