Price elasticity of demand indicates the consumer's response to changes in:
A) Quantity.
B) Demand.
C) Price.
D) Supply.

Name: Price elasticity of demand indicates the consumer's response to changes in: A) Quantity. B) Demand. C) Price. D) Supply.
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Question

Quizplus · Accepted Answer

Price elasticity of demand indicates how much the quantity demanded of a good or service changes in response to a change in its price. Therefore, the correct choice is C, price.

Price Elasticity of Demand Indicates the Consumer's Response to Changes