Multiple Choice
The price elasticity of demand is defined as
A) the percentage change in the quantity demanded divided by the percentage change in income.
B) the percentage change in income divided by the percentage change in the quantity demanded.
C) the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good.
D) the percentage change in the price of a good multiplied by the inverse of the percentage change in demand
E) the percentage change in price of a good divided by the percentage change in the quantity demanded of that good.
Correct Answer:
Verified
Correct Answer:
Verified
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