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2.7.2 Calculation of PED

Unit 2.7.2 - Calculation of Price elasticity of demand (PED)This section of the Cambridge IGCSE (0455) syllabus requires students to calculate PED (using the formula) and interpret the significance of the result. Students are also expected to draw and interpret demand curve diagrams to show different PED.To measure the degree of responsiveness of changes in the demand for a good or service following a change in its price,...

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