Essay
Which of the following best describes the price elasticity of demand?
A.The price elasticity of demand measures the responsiveness of the change in the quantity demanded to a change in the price.
B.The price elasticity of demand measures the change in the price versus a change in the quantity demanded.
C.The price elasticity of demand measures the responsiveness of the change in the slope of the demand curve to a change in the price.
D.The price elasticity of demand measures the change in the slope of the demand curve versus a change in the quantity demanded.
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