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.
(1) The Percentage Method: The price elasticity of demand is measured by its coefficient E p. This coefficient E p measures the percentage change in the quantity of a commodity demanded resulting from a given percentage change in its price: Thus. Where q refers to quantity demanded, p to price and â to change. If E p p p = 1 demand is unitary elastic.
price elasticity of demand rate. (Noun) Economics: a tool which shows the percentage change in demand due to a percentage change in price. if the value is less than 1, it is said to be inelastic. if the value is higher than 1, it is said to be elastic. Link to this page: