Assertion: price elasticity | /r/HasProperty | demanded in response
Facets:
value: by the percentage change in price
type: OTHER
value: to a small change in price
type: CAUSE
Source sentences:
text: When the elasticity variables are not specified, it is generally assumed that one is talking about price elasticity of demand which is the changes in quantity demanded in response to changes in price of that good holding other factors constant.
text: Price elasticity can be measured by dividing the percentage change in quantity demanded in response to a small change in price ,by the percentage change in price.