The formula for price- elasticity attempts to show the relationship between the percentage change in quantity demanded and the percentage change in _________.
A) market size
B) price
C) demand
D) market share
E) costs

Question

Quizplus · Accepted Answer

As per the formula for price-elasticity, it attempts to measure the sensitivity of the quantity demanded to changes in its price. Therefore, the correct answer is B) price.

The Formula for Price- Elasticity Attempts to Show the Relationship