10. Price elasticity of demand

0.0(0)
Studied by 0 people
call kaiCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/4

encourage image

There's no tags or description

Looks like no tags are added yet.

Last updated 7:01 PM on 6/2/26
Name
Mastery
Learn
Test
Matching
Spaced
Call with Kai

No analytics yet

Send a link to your students to track their progress

5 Terms

1
New cards

Price elasticity of demand (PED)

Measure of how much demand changes following a change in price.

2
New cards

Price elastic demand

Demand that responds strongly to changes in price.

3
New cards

Price inelastic demand

Demand that responds only slightly or not at all to price changes.

4
New cards

Unitary price elasticity

Situation where percentage change in quantity equals percentage change in price so revenue is unchanged.

5
New cards

Price discrimination

Charging different customers different prices for the same product due to differences in PED.