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Saurabh ajmera's Blog – September 2019 Archive (1)

Calculating Price Elasticity Through KNIME

As per Wikipedia, Price Elasticity of Demand (PED or ED or PE) is a measure used in economics to show the responsiveness, or change, of the quantity demanded of a good or service to a change in its price when nothing but the price changes. In more precise business terms, it helps in finding those products which have their sales more/less susceptible to price changes. As we know, the demand is inversely proportional to price, it is quite imperative to know this information for…


Added by saurabh ajmera on September 13, 2019 at 5:41am — No Comments


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