Solved

The Formula for the Own- Price Elasticity of Demand for a Commodity

Question 49

Multiple Choice

The formula for the own- price elasticity of demand for a commodity can be written as which of the following?


A) change in quantity demanded  change in price\frac{\text {change in quantity demanded }}{\text { change in price}}
B) perentage changeinprice percentage change inquantity demanded \frac{\text {perentage changeinprice }}{\text {percentage change inquantity demanded }}
C) change in price change in quantity demanded \frac{\text {change in price }}{\text {change in quantity demanded }}
D) perentage change in quantity demanded percentage change in price \frac{\text {perentage change in quantity demanded}}{\text { percentage change in price }}
E) percentage change in one price  percentage change in the other price\frac{\text {percentage change in one price }}{\text { percentage change in the other price}}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions