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CIMA P2 > 7) The Pricing Decision > Flashcards

7) The Pricing Decision Flashcards

1
Q

Price Elasticity of Demand, how to interpret result of the equation?

PED = Change in quantity demanded as % of demand / Change in price as % of price

A

1 or greater (ignore positive or negative) indicates Elastic Demand

Less than 1 (ignore positive or negative) indicates Inelastic Demand

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CIMA P2 (8 decks)

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