Price elasticity of demand definition

Price elasticity of demand means the percentage change in consumption resulting from a one per cent increase in real price;

Examples of Price elasticity of demand in a sentence

  • Price elasticity of demand measures changes in quantity demand to a change in Price.

  • Price elasticity of demand: Marshall was the first economist to define price elasticity of demand.

  • Electricity pricing : Electricity pricing in Generation, Transmission and Distribution, Introduction to Marginal cost, opportunity Costs, Dynamic pricing mechanism (ABT), Price elasticity of demand, Tariff setting principles, Distribution tariff for H.

  • Price elasticity of demand is defined as the measure of responsiveness in the quantity demanded for a product as a result of change in price of the same product.

  • Price elasticity of demand 1/(1 α) is constant, however, and independent of Dt.First, consider the case of a firm that continues in business.

  • Price elasticity of demand, measurement of price elasticity of demand- percentage, total expenditure and geometric method.

  • Price elasticity of demand is the proportionate change in demand given a change in price.

  • Price elasticity of demand for whisky – empirical estimatesLiterature on the demand elasticities of whisky in India is less common than research into the elasticities of aggregated products, i.e. spirits, due to this research question being very specific.There is a significant variety of alcohol on the global market.

  • Price elasticity of demand is one measure of price sensitivity; the more elastic the price, the more consumers will change behaviors in response to increases or decreases in price (Mankiw, 2011, p.

  • Price elasticity of demand is typically negative, i.e. when the price of a good goes up the quantity demanded goes down, following the law of demand.

Related to Price elasticity of demand

  • Biochemical Oxygen Demand (BOD) shall mean the quantity of oxygen utilized in the biochemical oxidation of organic matter under standard laboratory procedure in five (5) days at 20 degrees Centigrade, expressed in milligrams per liter.

  • Auction Final Price means the price, if any, determined to be the Auction Final Price pursuant to Section 12 of these Credit Derivatives Auction Settlement Terms (expressed as a percentage, in increments equal to the Relevant Pricing Increment, of the outstanding principal balance, rather than the face amount, of Deliverable Obligations).

  • Biochemical Oxygen Demand (BOD means the quantity of oxygen utilized in the biochemical oxidation of organic matter under standard laboratory procedure in five (5) days at 20 degrees C, expressed in milligrams per liter.

  • Price and Preferential Points Assessment means the process described in clause 27.6 of this Part C, as prescribed by the PPPFA.

  • Unit Price Arrangement means that part of the Contract that prescribes the product of a price per unit of measurement multiplied by a number of units of measurement for performance of the Work to which it relates;

  • Market/Offer Price means the highest of (i) the price per share of Common Stock at which a tender or exchange offer therefor has been made, (ii) the price per share of Common Stock to be paid by any third party pursuant to an agreement with Issuer, (iii) the highest closing price for shares of Common Stock within the six-month period immediately preceding the date the Holder gives notice of the required repurchase of this Option or the Owner gives notice of the required repurchase of Option Shares, as the case may be, or (iv) in the event of a sale of all or any substantial part of Issuer's assets or deposits, the sum of the net price paid in such sale for such assets or deposits and the current market value of the remaining net assets of Issuer as determined by a nationally recognized investment banking firm selected by the Holder or the Owner, as the case may be, and reasonably acceptable to Issuer, divided by the number of shares of Common Stock of Issuer outstanding at the time of such sale. In determining the market/offer price, the value of consideration other than cash shall be determined by a nationally recognized investment banking firm selected by the Holder or Owner, as the case may be, and reasonably acceptable to Issuer.

  • Congestion Price means the congestion component of the Locational Marginal Price, which is the effect on transmission congestion costs (whether positive or negative) associated with increasing the output of a generation resource or decreasing the consumption by a Demand Resource, based on the effect of increased generation from or consumption by the resource on transmission line loadings, calculated as specified in Operating Agreement, Schedule 1, section 2, and the parallel provisions of Tariff, Attachment K-Appendix.

  • Supply Price has the meaning set forth in Section 6.2.

  • Cutback asphalt means asphalt cement which has been liquefied by blending with petroleum solvents (diluents). Upon exposure to atmospheric conditions, the diluents evaporate, leaving the asphalt cement to perform its function.

  • Unit Price means an amount stated in the Bid for which Bidder offers to perform the Unit Price Work for a fixed price per unit of measurement.

  • Net Invoice Price means the price paid by You for Your Vehicle including all factory fitted accessories and any discount given but excluding retailer fitted accessories, road fund licence, new vehicle registration fee, fuel, paintwork and / or upholstery protection kits, insurance premiums (including this Premium), warranty premiums and any such associated costs and any Negative Equity.

  • Day-ahead Congestion Price means the Congestion Price resulting from the Day-ahead Energy Market.

  • Final Price means, with respect to a Security and an Auto-Call Valuation Date or the Valuation Date, subject to the Adjustment Provisions, the price of such Security as determined by the Calculation Agent as of the Valuation Time on the relevant Exchange on such Auto-Call Valuation Date or the Valuation Date, as the case may be.

  • Unit Price Work means the Work, or a portion of the Work, paid for based on incremental units of measurement.

  • Fully Burdened Manufacturing Cost means, with respect to any Licensed Product supplied by or on behalf of NVCR to Zai hereunder if such Licensed Product (or any precursor or intermediate thereof) is manufactured by a Third Party manufacturer [***].

  • Underwritten Net Cash Flow means, as of any date of determination, the excess of: (i) for the twelve (12) month period ending on such date, the sum of (A) the lesser of (1) GPR multiplied by 94.0%, and (2) Actual Rent Collections, and (B) Other Receipts; over (ii) for the twelve (12) month period ending on such date, the sum of (A) Operating Expenses, adjusted to reflect exclusion of amounts representing non-recurring expenses, (B) Underwritten Capital Expenditures and (C)

  • Common Unit Price has the meaning specified in Section 2.1(b).

  • Development Application means the development application identified in Item 5 of Schedule 1 and includes all plans, reports models, photomontages, material boards (as amended supplemented) submitted to the consent authority before the determination of that Development Application.

  • Pre-Licensed Therapist means an individual who has obtained a Master’s Degree in Social Work or Marriage and Family Therapy and is registered with the BBS as an Associate CSW or MFT Intern acquiring hours for licensing. An individual’s registration is subject to regulations adopted by the BBS.

  • Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Price in respect of such day.

  • Manufacturing Facility means buildings and structures, including machinery and equipment, the primary purpose of which is or will be the manufacture of tangible goods or materials or the processing of such goods or materials by physical or chemical change.

  • Net Proceeds Offer Trigger Date has the meaning provided in Section 4.16.

  • Sight Triangle means the triangular shape formed by street lines of a corner lot where such lot is located at the intersection of two or more streets and the line drawn from a point in one street to a point in the other street, each such point being 10.5 metres (34.4 feet) from the point of intersection of the streets measured along the said street lines provided that where the two streets do not intersect at a point, the point of the intersection of the street lines shall be deemed to be the intersection of the projected tangents to the street lines drawn through the extremities of the interior lot lines. Such triangular shape may also be called a daylighting triangle.

  • Transaction Costs means all fees, costs and expenses incurred or payable by the Borrower or any Subsidiary in connection with the Transactions.

  • Last best offer package means the offer exchanged by parties not less than 14 days prior

  • Approval of a vehicle means the approval of a vehicle type with regard to sound;