If the Percentage Change in Quantity Demanded Divided by the Percentage

question 51

Multiple Choice

If the percentage change in quantity demanded divided by the percentage change in price is:

• A) positive, demand is price elastic.
• B) negative, demand is price inelastic.
• C) less than 1 (absolute value), demand is price elastic.
• D) greater than 1 (absolute value), demand is price elastic.

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Definitions:

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