The price elasticity of demand is the ratio of the percent change in quantity demanded to the percent change in price as one moves along the demand curve.

Name: The price elasticity of demand is the ratio of the percent change in quantity demanded to the percent change in price as one moves along the demand curve.
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The price elasticity of demand formula is (percent change in quantity demanded)/(percent change in price), which is the ratio mentioned in the statement.

The Price Elasticity of Demand Is the Ratio of the Percent