Price Elasticity of Demand Is

question 25

Multiple Choice

Price elasticity of demand is

• A)The percentage change in quantity demanded divided by the percentage change in price
• B)The change in price divided by the change in quantity
• C)The change in quantity divided by the change in price
• D)The percent change in price divided by the change in quantity

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Definitions:

Franchising Systems

Business models where a brand allows individual proprietors to use its trademarks and methods in exchange for a fee and adherence to brand standards.

Differ

To be unlike or distinct in nature, form, or characteristics.

Advantages

Benefits or favorable points that give someone or something a more competitive position or higher likelihood of success.

Franchisee

An individual or company that holds the rights to operate a business or sell goods or services under the trademark and systems of a franchise brand.