The price sensitivity of buyers is measured by
A) the law of demand.
B) the price elasticity of demand.
C) subjective pricing.
D) vertical pricing.

Name: The price sensitivity of buyers is measured by A) the law of demand. B) the price elasticity of demand. C) subjective pricing. D) vertical pricing.
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Question

Quizplus · Accepted Answer

The price elasticity of demand measures how much the quantity demanded of a good responds to a change in the price of that good, which directly relates to the price sensitivity of buyers.

The Price Sensitivity of Buyers Is Measured by