Which of the Following Interpretations of Price Elasticity Is True

Multiple Choice

Which of the following interpretations of price elasticity is true?

A) Price elasticity is calculated by dividing the percent change in price by the percent change in the quantity demanded.
B) Price elasticity can be estimated from historical data.
C) A sampling of consumers' buying intentions cannot be used to estimate price elasticity.
D) A crude estimate of price elasticity is not a useful input for pricing decisions.