Price elasticity of demand is the:
A) change in the quantity demanded of a good divided by the change in the price of that good.
B) change in the price of a good divided by the change in the quantity demanded of that good.
C) percentage change in price of that good divided by the percentage change in the quantity demanded of that good.
D) percentage change in quantity demanded of a good divided by the percentage change in the price of that good.
Correct Answer:
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Q11: The short-run elasticity of demand for gasoline
Q12: If the price of corn goes up
Q13: The price elasticity of supply is the:
A)
Q14: Refer to the following graph. 
Q15: In general, the greater the elasticity, the:
A)
Q17: When demand is perfectly inelastic, there is
Q18: Most likely, the elasticity of demand for
Q19: Supply is said to be inelastic when
Q20: If quantity demanded falls by 25 percent
Q21: If the price elasticity of supply is
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