PRICE ELASTICITY OF DEMAND

Price Elasticity of Demand

Price Elasticity of Demand

Introduction

The price elasticity of demand analyzes the demand responsiveness in terms of the prices. The change in the prices reflects the true demand of the commodity. The value of price elasticity of demand is always taken as the absolute value.

Discussion

Our research paper is about the price elasticity of demand. The effect of increase in prices can be seen through the change in the demand of that commodity. In our research paper, we have taken the example of a painter. If the price, of each gallon of paint rises from $3.00 gallon to ...