_____ is estimated by dividing relative changes in the quantity sold by the relative changes in price.
A)Price skimming
B)Cost-plus pricing
C)Rate-of-return pricing
D)Price elasticity

Question

Quizplus · Accepted Answer

Price elasticity is a measure of the responsiveness of the quantity demanded or quantity sold of a product to changes in its price. It is calculated by dividing the percentage change in the quantity sold by the percentage change in price.

_____ Is Estimated by Dividing Relative Changes in the Quantity