Price elasticity is a measure of consumer's price sensitivity, which is estimated by dividing relative changes in the quantity sold by the
A) volume consumed.
B) cost of the product or service.
C) relative quantity produced.
D) relative changes in price.

Question

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Price elasticity is a measure of consumers' price sensitivity, which is estimated by dividing relative changes in the quantity sold by the relative changes in price.

Price Elasticity Is a Measure of Consumer's Price Sensitivity, Which