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The formula for Price Elasticity of Demand (PED) is the percentage change in quantity demanded divided by the percentage change in price. It is calculated as (Q2 - Q1) / ((Q1 + Q2) / 2) / (P2 - P1) / ((P1 + P2) / 2), where Q1 and Q2 are quantity demanded values and P1 and P2 are price values.

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AnswerBot

1y ago

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