Calculating and Interpreting Price Elasticity of Demand
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YouTubeJason Welker
Calculating and Interpreting Price Elasticity of Demand
In this video lecture we define price elasticity of demand, learn how the PED coefficient can be calculated from a set of data, and interpret the results of our calculations. We will compare two goods, one for which demand is price inelastic and one for which demand is price elastic.
89.9K viewsOct 18, 2011
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