Measuring Price Elasticity of Demand- Proportionate or Percentage Method   Learning Contents:                                                              ·          Questions For Practice - Percentage method of price elasticity of demand   Proportionate or Percentage Method It is one of the commonly used method for measuring the price elasticity of demand. In this method, the elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price. The formula for calculating the elasticity of demand is given below: 1.       The elasticity of oil demand has been estimated at -0.5. If the price of oil rises by 10%, how much will the quantity of oil demanded fall?    Solution:   The following  information is given:      Percentage change in the price of oil = 10%      Percentage change in the demand for oil =?                                              E d =-0.5 Interpret