Multiple Choice
Price elasticity of demand is defined as the:
A) ratio of the percentage change in quantity demanded to the percentage change in price.
B) sum of the percentage change in quantity demanded and the percentage change in income.
C) difference between the percentage change in price and the percentage change in quantity demanded.
D) difference between the percentage change in quantity demanded and the percentage change in price, multiplied by 100.
E) ratio of the percentage change in price to the percentage change in quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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