The Elasticity of Demand Measures

question 247

Multiple Choice

The elasticity of demand measures:

• A) the height of the demand curve.
• B) how sensitive the quantity demanded is to a change in price.
• C) how sensitive the price is to a change in demand.
• D) the extent to which demand shifts in response to supply changes.

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Definitions:

Outer Shell Electrons

Electrons located in the outermost shell of an atom, playing a crucial role in chemical reactions and bonding.

Semiconductor

Materials with electrical conductivity that falls between that of a conductor and an insulator, used in electronic components to control flow of current.