4165EconomicsMedium
The price elasticity of demand is the?
Aratio of the change in price to the change in quantity demanded.
Bratio of the change in quantity demanded to the change in price.
Cratio of the percentage change in quantity demanded to the percentage change in price.
Dratio of the percentage change in price to the percentage change in quantity demanded.
Correct answer
C. ratio of the percentage change in quantity demanded to the percentage change in price.
Explanation
The correct answer is ratio of the percentage change in quantity demanded to the percentage change in price..