John, the new marketing manager of Docâ€™s Cola recently
decided to increase the bottle of soda by 5 cents. He needs to calculate the
correct formula for the calculation of price elasticity of demand. Which
calculation below is the correct formula for price elasticity?

E = percent change in price/percent change in demand

E = percent change in demand/percent change in price

E = percent change in demand/percent change in supply

E = percent change in supply/percent change in demand