Register now or log in to join your professional community.
a) the percentage change in price divided by the percentage change in supply.
b) the percentage change in price divided by the percentage change in volume. c) the percentage change in volume demanded divided by the percentage change in price. d) the absolute increase in demand.
c) the percentage change in volume demanded divided by the percentage change in price.
Price elasticity is a measure of the responsiveness of volume to a change in price, expressed as a ratio of volume divided by price.
The correct answer is . .
c)the percentage change in volume demanded divided by the percentage change in price.....
.
.
.
.
OPTION C) CORRECT ANSWER <<<<<<<<<<<<<<<<<<<<<<
c) the percentage change in volume demanded divided by the percentage change in price.
