What concept do economists use to measure how one economic variable, such as quantity, responds to a change in another economic variable, such as price?
A)Slope
B)Efficiency
C)Relativity
D)Elasticity

Question

Quizplus · Accepted Answer

Economists use elasticity to measure how one economic variable responds to a change in another economic variable. Elasticity is the responsiveness of the quantity demanded or supplied of a good to a change in its price or to a change in the price of a related good.

What Concept Do Economists Use to Measure How One Economic