A simple Python-based tool to calculate and visualize the Price Elasticity of Demand (PED). This model helps businesses understand how changes in price affect the quantity demanded of a product, enabling data-driven pricing strategies. You can access the app here: https://priceelasticitymodel-fnr2p78zf4ecse4ewyldxw.streamlit.app/

Price Elasticity of Demand (PED) measures how sensitive the quantity demanded of a good is to a change in its price. It tells you exactly how much your sales volume will drop if you raise prices, or how much it will spike if you lower them. PED is a ratio of "Percent Change in Qty Demanded" and "Percent Change in price"