Economics A-Level
Price elasticity of demand
What Price elasticity of demand means in Economics A-Level, as defined for AQA.
Definition of Price elasticity of demand
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Reference: AQA
Interpreted from these curves, with demand elastic when marginal revenue is positive and inelastic when marginal revenue is negative.
Topics that use Price elasticity of demand
- Marginal, average and total revenue (AQA A-Level)
Related terms
- Average revenue
- Graphical analysis
- Marginal revenue
- Market structures
- Profit maximisation
- Revenue curves
- Revenue maximisation
- Total revenue
Using Price elasticity of demand in the exam
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