JAMB Economics 1981 Question 23

Elasticity of demand is given by

1. A.the percentage change in quantity demanded divided by the corresponding percentage change in price
2. B.the percentage change in price divided by the corresponding percentage change in quantity demanded
3. C.the percentage change in quantity demanded divided by the corresponding price
4. D.the percentage change in price divided by the corresponding quantity demanded
5. E.none of the above.