# Price Elasticity of Supply and Demand Calculator

In economics, Price Elasticity of Supply and Demand is the measurement of change in quantity of a service in accordance with the price change. Use this Price Elasticity of Supply and Demand (PED or Ed) calculator for performing Elasticity of Change in Quantity / Price calculation in simple manner.

## Elasticity of Change in Quantity / Price Calculation

In economics, Price Elasticity of Supply and Demand is the measurement of change in quantity of a service in accordance with the price change. Use this Price Elasticity of Supply and Demand (PED or Ed) calculator for performing Elasticity of Change in Quantity / Price calculation in simple manner.

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#### Formula :

Price Elasticity (PED or Ed) = Change in Quantity / Change in Price
Where,
Change in Quantity = ((New Quantity - Original Quantity) / Original Quantity)
Change in Price = ((New Price - Original Price) / Original Price)
Price Elasticity of Supply and Demand (PED or Ed) in other words, is the percentage of change in quantity against the percentage of change in price. Economist mostly tend to ignore the PED as it almost turns negative. There were various ranges of price elasticities, depending on whether a 1% change in price elicits more or less than a 1% change in quantity demanded.

If the price elasticity of demand is greater than one, we call this a price-elastic demand. A 1% change in price causes a response greater than 1% change in quantity demanded: ΔP < ΔQ. Use this online Price Elasticity of Supply and Demand (PED or Ed) calculator to estimate the Elasticity of Change in Quantity / Price.