6.Give formula for price elasticity of demand.
Dear Student,
The price elasticity of demand is the percentage change in the quantity demanded of a good or service divided by the percentage change in the price.
Price elasticity of Demand = Percentage change in quantity demanded
Percentage change in Price
Regards,
The price elasticity of demand is the percentage change in the quantity demanded of a good or service divided by the percentage change in the price.
Price elasticity of Demand = Percentage change in quantity demanded
Percentage change in Price
Regards,