If the quantity of a commodity demanded remains unchanged as its price changes, the coefficient of price elasticity of demand is greater than 1, equal to 1, smaller than 1, or zero.
Added by -Ngeles B.
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Step 1: The price elasticity of demand formula is given by: \[ E_d = \frac{\% \text{ change in quantity demanded}}{\% \text{ change in price}} \] Show more…
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