Distinguish between price elasticity of demand and price elasticity supply

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asked Jul 7, 2024 2.6k views

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MichalMa · Answer 1 · 2024-07-12T07:03:10+0000

Answer:

The price elasticity of demand is the percentage change in the quantity demanded of a good or service divided by the percentage change in the price. The price elasticity of supply is the percentage change in quantity supplied divided by the percentage change in price

Distinguish between price elasticity of demand and price elasticity supply

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Distinguish between price elasticity of demand and price elasticity supply