The price elasticity of demand is calculated as the percentage change in quantity demanded divided by the
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The price elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price. If the quantity demanded moves proportionately less than the price, then the elasticity is less than one, and demand is inelastic. If the quantity demanded moves proportionately more than the price, then the elasticity is greater than one, and demand is elastic.
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