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Price Elasticity of Demand

E-Book


What is Price Elasticity of Demand

A good's price elasticity of demand is a measure of how sensitive the quantity demanded is to its price. When the price rises, quantity demanded falls for almost any good, but it falls more for some than for others. The price elasticity gives the percentage change in quantity demanded when there is a one percent increase in price, holding everything else constant. If the elasticity is ?2, that means a one percent price rise leads to a two percent decline in quantity demanded. Other elasticities measure how the quantity demanded changes with other variables.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Price elasticity of demand

Chapter 2: Monopoly

Chapter 3: Deadweight loss

Chapter 4: Profit maximization

Chapter 5: Elasticity (economics)

Chapter 6: Cross elasticity of demand

Chapter 7: Price elasticity of supply

Chapter 8: Law of demand

Chapter 9: Demand curve

Chapter 10: Marginal revenue

Chapter 11: Marshall-Lerner condition

Chapter 12: Total revenue test

Chapter 13: Tax incidence

Chapter 14: Demand

Chapter 15: Supply (economics)

Chapter 16: Elasticity of a function

Chapter 17: Income elasticity of demand

Chapter 18: Total revenue

Chapter 19: Markup rule

Chapter 20: Isoelastic function

Chapter 21: Monopoly price

(II) Answering the public top questions about price elasticity of demand.

(III) Real world examples for the usage of price elasticity of demand in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Price Elasticity of Demand.