Multiple Choice
Elasticity of resource demand is measured by the
A) absolute change in resource quantity demanded divided by the absolute change in resource price.
B) percentage change in resource quantity demanded divided by the percentage change in resource price.
C) absolute change in resource price divided by the absolute change in resource quantity demanded.
D) percentage change in resource price divided by the percentage change in resource quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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