Multiple Choice
Price elasticity of demand measures:
A) the change in price brought about by a change in consumer demand.
B) how consumers change their purchases in response to a change in income.
C) how consumers change their purchases in response to a change in the price of a substitute good.
D) how consumers change their purchases in response to a change in the price of a product.
Correct Answer:
Verified
Correct Answer:
Verified
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