Which of the following is false?
A)The price elasticity of demand measures the responsiveness of quantity demanded to a change in price.
B)The price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price.
C)If demand is elastic, it means the quantity demanded changes by a relatively larger amount than the price change.
D)All of the above are true.

Question

Which of the following is false?
A)​The price elasticity of demand measures the responsiveness of quantity demanded to a change in price.
B)​The price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price.
C)​If demand is elastic, it means the quantity demanded changes by a relatively larger amount than the price change.
D)​All of the above are true.

Quizplus · Accepted Answer

All the statements provided are true descriptions of price elasticity of demand and its implications, making option D (that all of the above are true) the correct answer.

Which of the Following Is False