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Price elasticity of demand - Apples

This posting calculates price elasticity of demand of apples. It is also examines whether it is Elastic, Inelastic, or Unitary Elastic.

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Price elasticity of demand is a measure of the quantity demanded to changes in price; this rate is computed by dividing the percentage charges in quantity demanded by the percentage change in price ( O'Sullivan & Sheffrin, 2006, ...