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Price Elasticity of Demand Is Defined as the Ratio of The

Question 6

Multiple Choice

Price elasticity of demand is defined as the ratio of the:


A) percentage increase in price to an increase in quantity demanded.
B) unit change in quantity demanded to the dollar change in price.
C) maximum amount that consumers will pay to increase quantity.
D) percentage change in quantity demanded to the percentage change in price, other things being equal.

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