The price elasticity of demand measures the percentage Change in the quantity demanded resulting from a 1-percent increase in price. EpD=(%△QD)M(%△P)=(△Q/Q)/(△PP) >The income elasticity of demand is the Percentage change in the quantity demanded resulting from a 1-percent increase in income. E,=(%△Q)/(%△D=(△Q/Q)/(△⑩ ➢ The price elasticity of demand measures the percentage Change in the quantity demanded resulting from a 1-percent increase in price. EP D = (%△QD)/(%△P) = (△QD/QD)/(△P/P) ➢ The income elasticity of demand is the Percentage change in the quantity demanded resulting from a 1-percent increase in income. EI = (%△Q)/(%△I) = (△Q/Q)/(△I/I)