2.3: Price Elasticity of Demand
Section 1 of 5
Price Elasticity of Demand
Interactive Content
Note:
All content in this lesson is interactive. Hover over the
glowing blue terms
to learn more about a Vocabulary term. Hover over the icons to learn more about a Key Formula or Graph. Hover over any line, point,
or curve on any graph or diagram to learn more about it.
Price elasticity of demand measures how sensitive the quantity demanded of a good is to changes in its price. Understanding elasticity helps consumers, businesses, and policymakers make informed decisions regarding pricing, production, and economic policies.
Nova
Ask Nova a question!