Explain the measurement of the price elasticity of demand along the demand curve.

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asked May 12, 2023 114k views

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Donghwan Kim · Answer 1 · 2023-05-16T08:16:16+0000

Price elasticity of demand is the ratio of the percentage change in quantity demanded of a product to the percentage change in price. Economists employ it to understand how supply and demand change when a product's price changes.

Explain the measurement of the price elasticity of demand along the demand curve.

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