Answer to Question #250426 in Macroeconomics for hershey

Question #250426

what is price elasticity

Expert's answer

It is the measure of change in the quantity demanded of a product in relation to a change in price of the product.

Learn more about our help with Assignments: Macroeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. commodities, X and Y. The income of Mr.Alemu is $200, and price of X is 5 and the price of Y is 15.
2. Discuss the trade-off between unemployment and inflation
3. Considering automatic stabilizer, which of the following is likely to increase the South African gov
4. Suppose the level of output that creates full employment in the ec3is 1800.Using the multiplier of 1
5. When it comes to understanding inflation, and even other aspects of the business cycle, ecological e
6. 4. Suppose that a typical firm in a perfectly competitive industry has the following total cost curv
7. Using diagrams and examples, compare and contrast the Classical economists’ Quantity Theory and th