Mathematically, Price Elasticity of Demand Is the Percentage Change in the _____

question 58

Multiple Choice

Mathematically, price elasticity of demand is the percentage change in the _____ of a good divided by the percentage change in the _____ of that good.

• A) quantity demanded; price
• B) price; quantity
• C) quantity; price

---

Definitions:

Useful Output

The amount of productive work, goods, or services an organization, process, or device generates during a given period.

Sales Journal

A special journal that records all sales of merchandise on account.

General Ledger

The primary accounting record of a company that uses double-entry bookkeeping, containing all the financial accounts and transactions.

Reference Column

An additional column in financial documents used to include explanatory notes or cross-references.