Multiple Choice
The ratio of the percentage change in the quantity of tea demanded to the percentage change in the price of lemons is
A) the price elasticity of demand for tea.
B) a measure of the responsiveness of demand for lemons to a change in the price of tea.
C) a measure of the responsiveness of the price of tea to a change in the price of lemons.
D) a measure of the responsiveness of demand for tea to a change in the price of lemons.
E) the price elasticity of demand for lemons.
Correct Answer:
Verified
Correct Answer:
Verified
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