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.
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