Price elasticity of demand
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Is the price elasticity of demand for desktops (comsumer line & high profile sommercial line) price elastic or price inelastic?© BrainMass Inc. brainmass.com May 24, 2023, 1:25 pm ad1c9bdddf
Price Elasticity of Demand refers to the percentage change in the quantity of desktops demanded compared to a percentage change in its price. In the case of demand elasticity, an increase in price causes a decrease in quantity, that is, the demand curve is negatively sloped. Accordingly, elasticity would be negative. However, elasticity is always reported in terms of its absolute value regardless of sign.
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Price elasticity of demand is examined.