Price elasticity of demand ( PED or Ed ) is a measure used in economics to show the responsiveness , or elasticity , of the quantity demanded of a good or service to a change in its price , ceteris paribus .
In economics , the price elasticity of demand ( PED or Ed ) is a measure to show the responsiveness ( or elasticity ) of the quantity demanded for a good or service to a change in its price , ceteris paribus .