Answers>Economics>A Level>Article

What is price elasticity of demand and how is it measured?

Price elasticity of demand (PED) measures the responsiveness of percentage change in the quantity demanded of a good with respect to a percentage change in the price of a good. It is measured by the formula: %change in quantity demanded/ % change in price.

Answered by Hadiqa Z. • Economics tutor

15381 Views

See similar Economics A Level tutors

What is price elasticity of demand and how is it measured?

Related Economics A Level answers

What are the trade-offs with other macroeconomic policy objectives of a fall in the unemployment rate?

How does a natural monopoly differ from the more general monopoly market structure we're used to?

With the help of a diagram, explain why a trade-off between price stability and low unemployment might occur. (9 marks)

What is a possible result of a reduction in the budget deficit on the circular flow of income?

We're here to help

Company Information

Popular Requests

© MyTutorWeb Ltd 2013–2025

CLICK CEOP