Which of the Following Formulas Calculates Price Elasticity of Demand

question 88

Multiple Choice

Which of the following formulas calculates price elasticity of demand?

• A) ln (1 + % change in quantity sold) / ln (1 + % change in price)
• B) (1 + % change in quantity sold) / (1 + % change in price)
• C) % change in quantity sold / % change in price
• D) ln (1 - % change in quantity sold) / ln (1 - % change in price)

---

Definitions:

African Ancestry

refers to the heritage, origin, and lineage of individuals who are descendants of the native populations of Africa.

Environmental Explanation

A type of explanation for behavior or phenomena that emphasizes the role of the surrounding environment.

Binet's Legacy

Refers to the enduring contributions of Alfred Binet, particularly in the field of intelligence testing and psychology, including the development of the first practical intelligence test.

Psychological Study

Research aimed at understanding human thought, emotion, and behavior through systematic observation, measurement, and analysis.