The price elasticity of demand for soybeans is defined as the
A) Percentage change in quantity demanded of soybeans divided by the percentage change in the price of soybeans.
B) Percentage change in quantity demanded of soybeans times the percentage change in soybean price.
C) Unit change in soybean price divided by the unit change in quantity demanded of soybeans.
D) Unit change in quantity demanded of soybeans times the unit change in the price of soybeans.
Correct Answer:
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