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The Formula For Calculating Price Elasticity Of Demand Coefficient Is? - Erudites Academy
Economics WAEC

The formula for calculating price elasticity of demand coefficient is?

A. Percentage change in price/percentage change in quantity demanded
B. Absolute decline in price/absolute increase in quantity demanded
C. Percentage change in quantity demanded/percentage change in price
D. Absolute decline in quantity demanded/absolute increase in price
E. Change in quantity demanded/decrease in price

Correct Answer:

Option C – Percentage change in quantity demanded/percentage change in price

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