# Purpose of Price Elasticity

Can you explain the point of price elasticity?

© BrainMass Inc. brainmass.com May 20, 2020, 10:29 pm ad1c9bdddfhttps://brainmass.com/economics/principles-of-mathematical-economics/purpose-price-elasticity-515728

#### Solution Preview

The point of price elasticity is to allow economists to determine how a change in price affects customer demand. This is performed by a mathematical calculation, and the answer to the calculation tells us how the price change has specifically affected demand. I can't copy the equation into this box, but you can see it here: ...

#### Solution Summary

This solution explains the point of price elasticity. A detailed explanation is provided.

$2.19