QuestionMay 25, 2025

Price elasticity of demand is defined as: the slope of the demand curve. the slope of the demand curve divided by the price. the percentage change in price divided by the percentage change in quantity demanded. the percentage change in quantity demanded divided by the percentage change in price.

Price elasticity of demand is defined as: the slope of the demand curve. the slope of the demand curve divided by the price. the percentage change in price divided by the percentage change in quantity demanded. the percentage change in quantity demanded divided by the percentage change in price.
Price elasticity of demand is defined as:
the slope of the demand curve.
the slope of the demand curve divided by the price.
the percentage change in price divided by the percentage
change in quantity demanded.
the percentage change in quantity demanded divided by the
percentage change in price.

Solution
4.6(223 votes)

Answer

The percentage change in quantity demanded divided by the percentage change in price. Explanation 1. Identify the correct definition Price elasticity of demand measures how much the quantity demanded responds to a change in price. It is defined as the **percentage change in quantity demanded divided by the percentage change in price**.

Explanation

1. Identify the correct definition<br /> Price elasticity of demand measures how much the quantity demanded responds to a change in price. It is defined as the **percentage change in quantity demanded divided by the percentage change in price**.
Click to rate:

Similar Questions