CEVAP:

The price elasticity of demand measures how much quantity demanded of a good changes when there is a change in the price of the good. It measures the price sensitivity or responsiveness of consumers and it is calculated as the percentage change in quantity demanded divided by the percentage change in price. Generally, it is thought that the price elasticity of demand can be understood by simply looking at the slope of a demand curve. The flatter the demand curve, the higher the price elasticity and the steeper the demand curve, the lower the price elasticity of demand. It should be noticed that the slope of a demand curve is different from its price elasticity of demand.