Practicing Success
Practicing Success
CUET Preparation Today
Price elasticity of demand for a good can be calculated by : |
$\frac{\text{Change in demand for the good}}{\text{Change in price of the good}}$ $\frac{\text{Percentage change in demand for the good}}{\text{Percentage change in price of the good}}$ $\frac{\text{Change in price of the good}}{\text{Change in demand for the good}}$ $\frac{\text{Percentage change in price of the good}}{\text{Percentage change in demand for the good}}$ |
$\frac{\text{Percentage change in demand for the good}}{\text{Percentage change in price of the good}}$ |
The correct answer is option (2) : $\frac{\text{Percentage change in demand for the good}}{\text{Percentage change in price of the good}}$ |
