According to the law of demand, when calculating the price elasticity of demand, the mathematical sign will be positive.

Question

Quizplus · Accepted Answer

The law of demand states that there is an inverse relationship between price and quantity demanded, meaning as price increases, demand decreases, and vice versa. Therefore, the price elasticity of demand, which measures this relationship, is typically negative, reflecting the inverse relationship.

According to the Law of Demand, When Calculating the Price