Price Elasticity of Demand Measures

question 130

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.

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Definitions:

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