Price elasticity of demand - Creative Widgets

- Price elasticity of demand
- Initial price
  $
- Final price
  $
- Initial demand
  units
- Final demand
  units
- Price elasticity of demand using midpoint formula-1.2222
- Result explanation
  
  0 Perfectly Inelastic - The quantity demanded does not change regardless of price changes
  
  1 Unitary Elastic - The percentage change in quantity demanded equals the percentage change in price
  
  >1 Elastic - The percentage change in quantity demanded is greater than in price
  
  <1 Inelastic - The percentage change in quantity demanded is less than in price
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