________ describes how responsive demand will be to a change in price.
A) Price elasticity
B) Break-even pricing
C) The experience curve
D) Target costing
E) Cost transparency

Question

Quizplus · Accepted Answer

Price elasticity measures the change in demand for a product in response to a change in its price. It helps businesses understand how responsive their customers will be to price changes and adjust their pricing strategies accordingly.

________ Describes How Responsive Demand Will Be to a Change