Multiple Choice
Determining whether the price elasticity of demand is price elastic, unit price elastic, or price inelastic is done by:
A) comparing the percentage change in quantity demanded to the percentage change in price.
B) examining the ratio of the change in quantity to the change in price.
C) examining the slope of the demand curve.
D) examining the ratio of the change in price to the change in quantity
Correct Answer:
Verified
Correct Answer:
Verified
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