Price elasticity measures the amount that demand rises or falls with changes in price.

Name: Price elasticity measures the amount that demand rises or falls with changes in price.
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Price elasticity is a measurement of how much demand for a product changes in response to a change in its price. If demand changes greatly with a small change in price, the product is said to have high price elasticity. If demand changes little with a large change in price, the product is said to have low price elasticity.

Price Elasticity Measures the Amount That Demand Rises or Falls