Price elasticity of demand is a measure of the responsiveness of quantity demanded to changes in
A)interest rates.
B)price.
C)supply.
D)demand.

Name: Price elasticity of demand is a measure of the responsiveness of quantity demanded to changes in A)interest rates. B)price. C)supply. D)demand.
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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, making choice B the correct answer.

Price Elasticity of Demand Is a Measure of the Responsiveness