When price decreases, quantity increases. Price elasticity of demand measures how much ________.a. The price decreasesb. The price increasesc. The price decreases when quantity increasesd. The quantity increases when price decreases

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18-09-2019
Business

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When price decreases, quantity increases. Price elasticity of demand measures how much ________.a. The price decreasesb. The price increasesc. The price decreases when quantity increasesd. The quantity increases when price decreases

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alecejas alecejas · Answer 1 · 2019-09-19T21:28:37+02:00

Answer:

Price elasticity of demand measures how much the quantity increases when price decreases.

Explanation:

Price elasticity is the percentage change in the quantity demanded, divided by the percentage change in the price.

If the percentage in the change in the quantity demanded is bigger than the percentage in the change of the price we talk about elastic demand.

If the percentage in the change in the quantity demanded is smaller than the percentage in the change of the price we talk about inelastic demand.

And if he percentage in the change in the quantity demanded is excatly the same than the percentage in the change of the price we talk about unit elastic demand.