What Is the Formula for the Price Elasticity of Demand

question 167

Multiple Choice

What is the formula for the price elasticity of demand? The percentage change in the

• A) quantity demanded divided by the percentage change in the price of a substitute or complement.
• B) quantity supplied divided by the percentage change in price.
• C) quantity demanded divided by the percentage change in price.
• D) quantity demanded divided by the percentage change in income.
• E) equilibrium quantity demanded divided by the equilibrium price.

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Definitions:

Symbolized Categorical Statement

An expression using symbols to represent a statement about the relationship between categories or sets.

Categorical

Pertaining to categories or classification, particularly in logic where it relates to statements that assert or deny something about all members of a category.

Symbolized

To be symbolized means to represent something through symbols or to use symbols to express or convey ideas or concepts.

Symbolized Categorical Statement

A statement represented by symbols that categorically assert something about members of a particular group or category.