Ask Question
13 March, 13:14

The price elasticity of demand measures the: A) responsiveness of quantity demanded to a change in quantity supplied. B) responsiveness of price to a change in quantity demanded. C) responsiveness of quantity demanded to a change in price. D) responsiveness of quantity demanded to a change in income.

+1
Answers (1)
  1. 13 March, 15:01
    0
    The correct answer is C) responsiveness of quantity demanded to a change in price.

    Explanation:

    The price elasticity of demand is calculated as the percentage change in quantity demanded divided by a percentage change in price.

    This variable show how change the demand of a good when we modified his price, so, from the given options the correct is C) responsiveness of quantity demanded to a change in price.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The price elasticity of demand measures the: A) responsiveness of quantity demanded to a change in quantity supplied. B) responsiveness of ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers