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Important information about Economics - Price Elasticity of Demand
The price elasticity of demand is calculated as:
A) the change in price divided by the change in quantity demanded.
B) the change in quantity demanded divided by the change in price.
C) the percentage change in price divided by the percentage change in quantity demanded.
D) the percentage change in quantity demanded divided by the percentage change in price.
Assume that the exchange rate between the Canadian dollar and the Euro is 2 Euros per Canadian dollar.
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