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18 Aug 2020
The basic formula for the price elasticity of demand coefficient is:
a. absolute decline in quantity demanded/absolute increase in price.
b. percentage change in quantity demanded/percentage change in price.
c. absolute decline in price/absolute increase in quantity demanded.
d. percentage change in price/percentage change in quantity demanded.
The basic formula for the price elasticity of demand coefficient is:
a. absolute decline in quantity demanded/absolute increase in price.
b. percentage change in quantity demanded/percentage change in price.
c. absolute decline in price/absolute increase in quantity demanded.
d. percentage change in price/percentage change in quantity demanded.
b. percentage change in quantity demanded/percentage change in price.
c. absolute decline in price/absolute increase in quantity demanded.
d. percentage change in price/percentage change in quantity demanded.
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