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Price elasticity of demanded in quantity of good

The price elasticity of demand is the relative proportional change within the: (1) quantity of a good demanded yielded by a given absolute price change. (2) price generated through a specified change in quantity demanded. (3) quantity of a good demanded divided through a very small price change. (4) percentage of income spent on a good as its price changes. (5) demand for a good related with a 1 percent increase in income.

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