Price elasticity of demand for a good can be calculated by :
Answer & explanation
Correct answer: option 2
The correct answer is option (2) : $\frac{\text{Percentage change in demand for the good}}{\text{Percentage change in price of the good}}$
Price elasticity of demand for a good can be calculated by :
Correct answer: option 2
The correct answer is option (2) : $\frac{\text{Percentage change in demand for the good}}{\text{Percentage change in price of the good}}$