Answer:
The correct answer is letter "A": the percentage change in price.
Explanation:
Elasticity is a characteristic of goods and services have by which their quantity supplied or demanded changes as a result of changes in price. Elasticity is calculated by dividing the change in the percentage of the quantity supplied or demanded by the percentage in the change of price.
Results equal or higher than one (1) imply the product is elastic and results lower than 1 imply the product is inelastic.
