Question

What is price elasticity of demand?

Answer 1

Price elasticity of demand is a measure of the change in the quantity demanded or purchased of a product in relation to its price change. Expressed mathematically, it is:
Ed = %change in quantity demanded/%change in price.
Source:
https://www.investopedia.com/terms/p/priceelasticity.asp#ixzz5MBxzyqtL