Multiple Choice
The price elasticity of demand is expressed as the
A) percentage change in the quantity demanded divided by the percentage change in income.
B) percentage change in the price divided by the percentage change in the quantity demanded.
C) percentage change in the quantity demanded divided by the percentage change in the price.
D) percentage change in supply divided by the percentage change in demand.
E) absolute change in the quantity demanded divided by the absolute change in the price.
Correct Answer:
Verified
Correct Answer:
Verified
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