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The Price Elasticity of Demand Is Measured by the Percentage

question 160

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The price elasticity of demand is measured by the percentage change in quantity demanded divided by the percentage change in price.


Definitions:

Secondary

Refers to the output side of a transformer or the secondary winding where the transformed or induced voltage is produced.

Tertiary

Referring to the third level or stage in a sequence, system, or hierarchy.

Tapped

In electrical engineering, refers to creating a connection point at some location along a wire or winding of a transformer to draw off voltage.

Autotransformer

A type of electrical transformer with a single winding that acts as both the primary and the secondary winding, used for varying the level of voltage.

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