The Formula for Price Elasticity of Demand That Is Used

question 35

Multiple Choice

The formula for price elasticity of demand that is used in practice

• A)usually drops all minus signs.
• B)usually takes on different values at different points on the demand curve.
• C)may calculate the percentage change in price between P₁ and P₂ as "(P₂ − P₁) as a percentage of (P₁ + P₂)/2."
• D)All of the responses are correct.

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