The formula for calculating price elasticity of demand coefficient is
ECONOMICS
WAEC 1997
The formula for calculating price elasticity of demand coefficient is
- A. Percentage change in price/percentage change in quantity demanded
- B. Absolute decline in price/absolute increase in quantity demanded
- C. Percentage change in quantity demanded/percentage change in price
- D. Absolute decline in quantity demanded/absolute increase in price
Correct Answer: C. Percentage change in quantity demanded/percentage change in price
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