question the formula for price elasticity of demand is: select the correct answer below: % change in…

question the formula for price elasticity of demand is: select the correct answer below: % change in quantity demanded / % change in price % change in price / % change in quantity demanded % change in quantity supplied / % change in price % change in income / % change in quantity demanded

question the formula for price elasticity of demand is: select the correct answer below: % change in quantity demanded / % change in price % change in price / % change in quantity demanded % change in quantity supplied / % change in price % change in income / % change in quantity demanded

Answer

Brief Explanations:

Price - elasticity of demand measures the responsiveness of quantity demanded to a change in price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price.

Answer:

First option: $\frac{% \text{ change in quantity demanded}}{% \text{ change in price}}$