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Price elasticity of demand refers to:

a) the percentage change in price divided by the percentage change in supply.

b) the percentage change in price divided by the percentage change in volume. c) the percentage change in volume demanded divided by the percentage change in price. d) the absolute increase in demand.

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Question added by Vinod Jetley , Assistant General Manager , State Bank of India
Date Posted: 2015/02/27
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Pat Hawkins
by Pat Hawkins , Procurement Specialist , Valiant Integrated Services

c) the percentage change in volume demanded divided by the percentage change in price.

 

Price elasticity is a measure of the responsiveness of volume to a change in price, expressed as a ratio of volume divided by price.

Nasir Hussain
by Nasir Hussain , Sales And Marketing Manager , Pakistan Pharmaceutical Products Pvt. Ltd.

The correct answer is . .  

 

 

c)the percentage change in volume demanded divided by the percentage change in price.....

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Wasi Rahman Sheikh
by Wasi Rahman Sheikh , WAREHOUSE SUPERVISOR , AL MUTLAQ FURNITURE MFG

OPTION C) CORRECT ANSWER <<<<<<<<<<<<<<<<<<<<<<

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

c) the percentage change in volume demanded divided by the percentage change in price.

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