Multiple Choice
The price elasticity of demand is calculated as _____
A) the percentage change in quantity demanded divided by the percentage change in price.
B) the percentage change in price divided by the percentage change in quantity demanded.
C) the absolute change in quantity demanded divided by the absolute change in price.
D) the absolute change in price divided by the absolute change in quantity demanded.
E) price multiplied by quantity demanded at that price.
Correct Answer:
Verified
Correct Answer:
Verified
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