Knowing a Product's Price Elasticity of Demand Allows Economists to Predict

Multiple Choice

Knowing a product's price elasticity of demand allows economists to predict

A) the amount by which quantity demanded will change in response to a change in price.
B) how changes in consumers' income will affect sales.
C) the amount by which quantity supplied will change in response to a change in price.
D) how quickly consumers will respond to tariff changes.