Economics A Level (DONEEEEEEE): What is the Price Elasticity Demand? [PED]
-Give the Formula

Question

What is the Price Elasticity Demand? [PED]
-Give the Formula

eric_galvao · Accepted Answer

-How well Quantity Demand responds to a Change in Price
PED = % Change in Quantity Demanded [Qd] / % Change in Price [P] 
PED = % Change of Qd / % Change of P

Economics A Level (DONEEEEEEE)

What is the Price Elasticity Demand? [PED] -Give the Formula

-How well Quantity Demand responds to a Change in Price PED = % Change in Quantity Demanded [Qd] / % Change in Price [P] PED = % Change of Qd / % Change of P

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