The Great Upheaval. A Spontaneous Eruption. It started with a 10% pay cut. When leaders of the Baltimore and Ohio Railroad Company ordered this second reduction in less than eight months, railroad workers in Martinsburg, West Virginia decided they had had enough.
According to this method, âprice elasticity of demand is the ratio of percentage change in the amount demanded to the percentage change in price of the commodity.â. It is also known as the Percentage Method, Flux Method, Ratio Method, and Arithmetic Method.
The price elasticity of demand coefficient measures:? a. buyer responsiveness to price changes. b. the extent to which a demand curve shifts as incomes change. c. the slope of the demand curve. d. how far business executives can stretch their fixed costs. Source(s): price elasticity demand coefficient measures: https://trimurl.im/a84/the-price-elasticity-of-demand-coefficient-measures.