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

1 answer

The equation you provided is used to figure out price elasticity. Specifically, it measures the responsiveness of the quantity demanded of a good to changes in its price.