Introduction to price elasticity of demand
8:20
Khan Academy
Introduction to price elasticity of demand
Learn about the price elasticity of demand, a concept measuring how sensitive quantity is to price changes. Elasticity is calculated as percent change in quantity divided by percent change in price. Elastic situations have elasticity greater than 1, while inelastic situations have elasticity less than 1. Elasticity varies along a demand curve ...
Feb 19, 2019
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