5- Price elasticity of demand refers to the ratio of the: Question 5 options: a-

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5- Price elasticity of demand refers to the ratio of the: Question 5 options:
a- percentage change in price of a good in response to a percentage change in quantity demanded.
b- percentage change in price of a good to a percentage increase in income.
c- percentage change in the quantity demanded of a good to a percentage change in its price.
d- none of the above. 5- Price elasticity of demand refers to the ratio of the: 5- Price elasticity of demand refers to the ratio of the:
a- percentage change in price of a good in response to a percentage change in quantity demanded.
b- percentage change in price of a good to a percentage increase in income.
c- percentage change in the quantity demanded of a good to a percentage change in its price.
d- none of the above. a- percentage change in price of a good in response to a percentage change in quantity demanded. b- percentage change in price of a good to a percentage increase in income. c- percentage change in the quantity demanded of a good to a percentage change in its price. d- none of the above.
a- percentage change in price of a good in response to a percentage change in quantity demanded.
b- percentage change in price of a good to a percentage increase in income.
c- percentage change in the quantity demanded of a good to a percentage change in its price.
d- none of the above.

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