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2.6.2 Calculation of PED

Topic 2.6.2 - Calculation of PED This section of the Cambridge IGCSE (0455) syllabus requires students to be able to understand the following: To measure the degree of responsiveness of changes in the demand for a good or service following a change in its price, the following formula is used. For example, suppose that a convenience store owner raises the price of a popular snack from $5 to $5.50 and notices that this...

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