Which of the following can be used to calculate the price elasticity of demand?

a

\(\frac{\text{percentage change in quatity demand}}{\text{percentage change in price}}\)

b

\(\frac{\text{percentage change in price}}{\text{percentage change inquantity demand}}\)

c

\(\frac{\text{percentage change in quality demand}}{\text{percentage change in income}}\)

d

\(\frac{\text{percentage change in income}}{\text{percentage change in quantity demand}}\)

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1c3
3 years ago

the formula is percentage change in quantity demanded/percentage change in price. Change it from quality to quantity please. It's very confusing

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