Price elasticity of demand.

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The epidermis is the outermost layer of cells covering the leaves, stems, and roots of a plant.
It protects the plant from water loss, injury, and infection.
Cells are closely packed and often covered with a waxy cuticle to reduce evaporation.
In leaves, it contains stomata, which control gas exchange and transpiration.
Key Points:
Meaning: Price elasticity of demand shows how much the demand for a product changes when its price changes. It helps us understand how sensitive customers are to price changes.
For example:
If the price of ice cream goes up and people stop buying it quickly, the demand is elastic.
But if the price of salt goes up and people still buy it, the demand is inelastic.
Formula:
It is so nice