One of the Most Important Concepts in Marketing Is the Price

One of the most important concepts in marketing is the price elasticity of demand, which is the

A) percentage change in quantity demanded in response to a percentage change in price.
B) point at which the costs of producing a product equal the revenue made from selling the product.
C) price that consumers consider reasonable and fair for a product.
D) percentage a product is marked up in response to consumer demand.
E) difference between the actual price and the highest price the customer would be willing to pay for the product.