Producers Want to Calculate the Price Elasticity of Demand Because

question 118

Multiple Choice

Producers want to calculate the price elasticity of demand because they want to:

• A) know the goods and services for which consumers are most sensitive to price changes.
• B) be able to predict the future preferences of their customers.
• C) know that consumers will have the same response to a price change regardless of the good or service.
• D) understand what goods their customers dislike the most.