The formula for calculating price elasticity is _________.

E_{d}

= % change in price / % change in quantity demanded

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E_{d}

= % change in quantity demanded / % change in price

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E_{d}

= % change in quantity supplied / % change in price

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E_{d}

= % change in price / % change in quantity supplied

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Solution

The correct option is B $E_{d}$ = % change in quantity demanded / % change in price
The price elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price.
Hence, the correct option is B.

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