Multiple Choice
Which of the following is false?
A) The price elasticity of demand measures the responsiveness of quantity demanded to a change in price.
B) The price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price.
C) If demand is elastic, it means the quantity demanded changes by a relatively larger amount than the price change.
D) All of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
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