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PED Price Elasticity Demand

When price Quantity demanded When price Quantity demanded We have to Study not the direction of the change but the degree of the change If the price Quantity demanded markedly : Elastic = High response If the price Quantity demanded not markedly ( Low response ) Elastic = low response this is very important in Pricing Strategy In Elastic case : Reduce the price as long as it is still profitable In Inelastic case : Raise the price as long as It is accept Socially In Inelastic will not stay inelastic forever ; either turn into elastic or the demand will decreases Price changes with change in elasticity

What is PED? Definetion of PED ? Calculation of PED , Degree of elasticity ? Importance of PED ? Pricing policy Determinant of PED ? Important or not ? Is there a substitute or not

1- Definition of PED : The study of the % change of

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