The basic formula for the price elasticity of demand coefficient is

A) absolute decline in quantity demanded/absolute increase in price.
B) percentage change in quantity demanded/percentage change in price.
C) absolute decline in price/absolute increase in quantity demanded.
D) percentage change in price/percentage change in quantity demanded.

Price Elasticity

An assessment of the responsiveness of product demand to changes in its pricing.

Demand Coefficient

A parameter in demand analysis that measures the sensitivity of the quantity demanded of a good to changes in its price or other factors.

Quantity Demanded

The complete quantity of a product or service that customers are prepared and able to buy at a given price.