The price elasticity of demand is the
A) percentage change in quantity demanded divided by the percentage change in price.
B) change in quantity demanded divided by the change in price.
C) percentage change in price divided by the percentage change in quantity demanded.
D) change in price divided by the change in quantity demanded.
Answer: A
You might also like to view...
Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the quantity of apartments demanded at the new price?
A) 0 B) Q0 C) Q1 D) Q*
Before the Great Depression of the 1930s, the majority of government spending took place at the ________ and after the Great Depression the majority of government spending took place at the ________
A) state and local levels; federal level B) local level; federal level C) federal level; state and local levels D) federal level; state level