Multiple Choice
How is the price elasticity of demand calculated?
A) averaging previous demand levels with new demand levels
B) dividing percentage change in quantity demanded by percentage change in price
C) dividing the new quantity demanded by the percentage change in price times 100
D) multiplying the percentage change in quantity demanded by the percentage change in price
E) dividing the percentage change in price by the percentage change in quantity demanded
Correct Answer:
Verified
Correct Answer:
Verified
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