Multiple Choice
The elasticity approach to measuring the sensitivity of quantity demanded to changes in price differs from using the slope because the elasticity approach calculates the ratio of the
A) absolute change in price to the absolute change in quantity demanded
B) absolute change in quantity demanded to the percentage change in price
C) absolute change in quantity demanded to the percentage change in price.
D) percentage change in quantity demanded to the percentage change in price.
E) average change in price to the average change in quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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