Multiple Choice
The elasticity of demand measures:
A) how responsive price is to a change in the quantity demanded of a good or service.
B) how much value consumers place on each unit of the good or service.
C) the rate of change of demand in relation to supply.
D) how responsive quantity demanded is to a change in the price of a good or service.
Correct Answer:
Verified
Correct Answer:
Verified
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