The Ratio of the Percentage Change in the Quantity of Tea

question 8

Multiple Choice

The ratio of the percentage change in the quantity of tea demanded to the percentage change in the price of lemons is

• A) the price elasticity of demand for tea.
• B) a measure of the responsiveness of demand for lemons to a change in the price of tea.
• C) a measure of the responsiveness of the price of tea to a change in the price of lemons.
• D) a measure of the responsiveness of demand for tea to a change in the price of lemons.
• E) the price elasticity of demand for lemons.

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Definitions:

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