Price point elasticity of demand
measures the relative change in quantity demanded around a 1% change in price.
symbols, variables and units
P: price; Q: quantity; ε_p: dimensionless, always negative.
applicable conditions and boundaries
Locally differentiable demand, other conditions unchanged; different from arc elasticity.
formula source code
The following is a copyable LaTeX expression.
\varepsilon_p=\frac{dQ}{dP}\frac PQReference and Extended Learning
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price elasticitydemand