Price Elasticity of Demand

Price Elasticity of Demand

Introduction

This paper is based on the most important topic of economic name d as the price elasticity of demand. In this paper we will first explain the definition with the factors affecting the price elasticity. In the end, we will take the real business example to have better grip on the topic.

Definition

Price elasticity of demand is one of the major economical aspects that focus on the change in demand of the product, with the change ion price.

However, in order to calculate the price elasticity of demand, the proportionate change in the quantity demanded ...