Price Elasticity of Demand is a measure of how the quantity demanded of a good responds to a change in its price. A price elasticity of demand of -1 indicates unitary elasticity, where a 1% change in price results in an equal 1% change in quantity demanded. This concept is crucial for pricing strategies and revenue forecasting.
CMA Prep Course
CMA Exam Academy is a proven, 16-week per part online coaching program to help you pass the CMA. The Academy’s comprehensive curriculum will help you pass the CMA exam and achieve your dreams of earning 6-figures per year, ascend to the executive ranks and earn the respect from your peers.
