Which of the following can be used to calculate the price elasticity of demand?

The formula used to calculate price elasticity of demand is: \(\frac{\text{percentage change in quantity demand}}{\text{percentage change in price}}\) Therefore, the option that can be used to calculate price elasticity of demand is: \(\frac{\text{percentage change in quantity demand}}{\text{percentage change in price}}\) This formula measures the responsiveness of quantity demanded to a change in price. If the result is greater than 1, demand is considered elastic, meaning that a change in price leads to a proportionally larger change in quantity demanded. If the result is less than 1, demand is considered inelastic, meaning that a change in price leads to a proportionally smaller change in quantity demanded.