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Generally, we calculate elasticity as the: percentage change in quantity demanded/supplied divided by the change in price. percentage change in price divided by the percentage change in quantity demanded/supplied. percentage change in quantity demanded/supplied divided by the percentage change in price. change in quantity demanded/supplied divided by the change in price.

Respuesta :

Answer: Option (C) is correct.

Explanation:

Elasticity measures the responsiveness of percentage change in quantity demanded from percentage change in price.

Elasticity = [tex]\frac{Percentage\ change\ in\ quantity\ demanded/supplied}{Percentage\ change\ in\ price}[/tex]

Types of elasticity:

(1) Perfectly elastic

(2) Inelastic

(3) Unitary elastic

(4) Less elastic

(5) More elastic

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