Measurement of price elasticity

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## Newton D

The price elasticity of demand is measured by its coefficient (Ep). This coefficient (Ep) measures the percentage change in the quantity of a commodity demanded resulting from a given percentage change in its price. Where q refers to quantity demanded, p to price and Δ to change. If EP>1, demand is elastic.

## manish1008

Price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price. There are four methods of measuring elasticity of demand. They are the percentage method, point method, arc method and expenditure method.

## Ayush

The price elasticity of demand is measured by its coefficient (Ep). This coefficient (Ep) measures the percentage change in the quantity of a commodity demanded resulting from a given percentage change in its price. Where q refers to quantity demanded, p to price and Δ to change. If EP>1, demand is elastic.