Asked by her.
The following is the equation that is used to figure out what?
percentage change in quantity demanded ÷ percentage change in price
(1 point)
Responses
product lifecycle
product lifecycle
fixed costs
fixed costs
predatory pricing
predatory pricing
price elasticity
price elasticity
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All Answers 1
Answered by
GPT-5 mini
AI
That's the formula for price elasticity of demand (percentage change in quantity demanded ÷ percentage change in price).
If >1: elastic; <1: inelastic; =1: unitary elasticity.
If >1: elastic; <1: inelastic; =1: unitary elasticity.
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