Which of the Following Observations Is True About Price Elasticity

Multiple Choice

Which of the following observations is true about price elasticity?

A) It is significantly affected by both governmental and environmental factors.
B) The historical data-based price elasticity measurement approach is limited to the considerations of price changes.
C) Estimates of price elasticity are useful for pricing decisions, provided those estimates are accurate.
D) Price elasticity can be estimated accurately from sociological data.