The concept of price elasticity of demand is most closely related to:
A) the equilibrium price.
B) the equilibrium quantity.
C) a movement along the demand curve.
D) a shift in the demand curve.

Question

Quizplus · Accepted Answer

Price elasticity of demand measures how much the quantity demanded of a good responds to a change in the price of that good, which is represented by a movement along the demand curve, not a shift in the curve itself.

The Concept of Price Elasticity of Demand Is Most Closely