How is the price elasticity of demand measured?
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A peck is 1/4 of a bushel. If the price elasticity of demand for oats is 0.60 when oats
are measured in bushels, then when oats are measured in pecks, the price elasticity of demand for oats will be
a) 20.15.
b) 22.40.
c) 20.30.
d) 21.20.
Why isn't elasticity just measured by the slope of the demand curve?
