Price Elasticity of Demand (E)is Expressed as Means Change)
A) E = Percentage Change in Price
Price elasticity of demand (E) is expressed as ( means change)
A) E = Percentage change in price (% in P) / Percentage change in quantity demanded (% in Q) .
B) E = Price (P) / Quantity demanded (Q) .
C) E = Percentage change in quantity demanded (% in Q) / Percentage change in price (% in P) .
D) E = Quantity demanded (Q) / Price (P) .
E) E = Quantity demanded (Q) / Price (P)
Correct Answer:
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