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WAEC Economics 2013 Paper

Question : 46

Total: 46

Which of the following can be used to calculate the price elasticity of demand?

$\;{\;\text\;"percentage\;change\;in\;quatity\;demand"\;}/{\;\text\;"percentage\;change\;in\;price"\;}$
$\;{\;\text\;"percentage\;change\;in\;price"\;}/{\;\text\;"percentage\;change\;inquantity\;demand"\;}$
$\;{\;\text\;"percentage\;change\;in\;quality\;demand"\;}/{\;\text\;"percentage\;change\;in\;income"\;}$
$\;{\;\text\;"percentage\;change\;in\;income"\;}/{\;\text\;"percentage\;change\;in\;quantity\;demand"\;}$

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