Multiple Choice
We calculate the price elasticity of demand as the
A) ratio of the percentage change in price to the percentage change in quantity.
B) change in quantity divided by the change in price.
C) ratio of the percentage change in the quantity demanded to the percentage change in price.
D) equilibrium quantity divided by the equilibrium price.
E) percentage change in the quantity demanded divided by the percentage change in income.
Correct Answer:
Verified
Correct Answer:
Verified
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