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Define elasticity of demand
The Elasticity of Demand (Ed), also referred to as the Price Elasticity of Demand, measures how responsive demand is to changes in price of a given good.
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Asked 7/12/2011 12:55:18 AM
Updated 6/29/2015 3:43:35 AM
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Flagged by alfred123 [6/29/2015 3:40:48 AM], Edited by Andrew. [6/29/2015 3:43:34 AM], Unflagged by Andrew. [6/29/2015 3:43:35 AM]
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The Elasticity of Demand (Ed), also referred to as the Price Elasticity of Demand, measures how responsive demand is to changes in price of a given good.
Added 6/29/2015 3:40:47 AM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [6/29/2015 3:43:35 AM]
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