Price Elasticity of Demand ■ Assume The price of pork falls by 2% and the quantity demanded increases by 6% Then the price elasticity of demand for pork is 6 3 2 Chapter 4: Elasticity Slide 13MB MC Chapter 4: Elasticity Slide 13 ◼ Assume ⚫ The price of pork falls by 2% and the quantity demanded increases by 6% ◆Then the price elasticity of demand for pork is Price Elasticity of Demand 3 2 6 = − −