If the percentage change in quantity demanded is equal to the percentage change in price what is the price elasticity of demand?

Question

If the percentage change in the quantity demanded equals the percentage change in price, the value of the price elasticity of demand equals 1 and demand is unit elastic.

kratos · Answer 1 · 2021-01-09T01:18:35+0000

If the percentage change in the quantity demanded equals the percentage change in price, the value of the price elasticity of demand equals 1 and demand is unit elastic.

If the percentage change in quantity demanded is equal to the percentage change in price what is the price elasticity of demand?

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If the percentage change in quantity demanded is equal to the percentage change in price what is the price elasticity of demand?

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1 Answer

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