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Question #49187

The price elasticity of demand is the ?

Options:

A) ratio of the change in price to the change in quantity demanded.

B) ratio of the percentage change in quantity demanded to the percentage change in price.

C) ratio of the change in quantity demanded to the change in price.

D) ratio of the percentage change in price to the percentage change in quantity demanded.

Answer: The price elasticity of demand is the ratio of the percentage change in quantity demanded to the percentage change in price..

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