When price elasticity of demand for normal goods is calculated, the value is always

When price elasticity of demand for normal goods is calculated, the value is always

A). Positive

B). Negative

C). Constant

D). Greater than 1

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Guest · Answer 1 · 2021-06-27 09:37:06

Negative

When price elasticity of demand for normal goods is calculated, the value is always Negative. The PED is the percentage change in quantity demanded in response to a one percent change in price. The PED coefficient is usually negative, although economists often ignore the sign. Demand for a good is relatively inelastic if the PED coefficient is less than one (in absolute value).

When price elasticity of demand for normal goods is calculated, the value is always

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