Question on: WAEC Economics - 2013
Which of the following can be used to calculate the price elasticity of demand?
A
\(\frac{\text{percentage change in quality demand}}{\text{percentage change in price}}\)
B
\(\frac{\text{percentage change in price}}{\text{percentage change inquantity demand}}\)
C
\(\frac{\text{percentage change in quality demand}}{\text{percentage change in income}}\)
D
\(\frac{\text{percentage change in income}}{\text{percentage change in quantity demand}}\)
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Correct Option: A
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