Elasticity of demand is given by

  • A the prcentage change in quantity demanded divided by the corresponding percentage change in price
  • B the percentage change in price divided by the corresponding percentage change in quantity demanded
  • C the percentage change in quantity demanded divided by the corresponding price
  • D the percentage change in price divided by the corresponding quantity demanded
  • E none of the above
jamb 1981economics

The correct answer is A. the prcentage change in quantity demanded divided by the corresponding percentage change in price

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