Determining Whether the Price Elasticity of Demand Is Price Elastic

question 61

Multiple Choice

Determining whether the price elasticity of demand is price elastic, unit price elastic, or price inelastic is done by:

• A) comparing the percentage change in quantity demanded to the percentage change in price.
• B) examining the ratio of the change in quantity to the change in price.
• C) examining the slope of the demand curve.
• D) examining the ratio of the change in price to the change in quantity

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Definitions:

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