Elasticity is a measure of:
A) the slope of a linear demand curve.
B) the slope of a supply curve.
C) relative responsiveness.
D) economic welfare.
E) consumer tastes.

Name: Elasticity is a measure of: A) the slope of a linear demand curve. B) the slope of a supply curve. C) relative responsiveness. D) economic welfare. E) consumer tastes.
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Question

Quizplus · Accepted Answer

Elasticity measures how responsive a buyer or seller is to a change in price or other variables. It is a measure of relative responsiveness.

Elasticity Is a Measure Of