study guides for every class

that actually explain what's on your next test

Price Elasticity of Demand

from class:

AP Microeconomics

Definition

Price elasticity of demand measures the responsiveness of quantity demanded to a change in price. It shows how sensitive consumers are to changes in price.

congrats on reading the definition of Price Elasticity of Demand. now let's actually learn it.

ok, let's learn stuff

"Price Elasticity of Demand" also found in:

© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.