Price elasticity of demand is a measure of:
A)consumer response to a change in a good's price.
B)a market's ability to restore equilibrium after a change in a good's price.
C)the demand for a good or service.
D)consumer response to excess demand.

Question

Quizplus · Accepted Answer

Price elasticity of demand is the percentage change in quantity demanded that results from a 1 percent change in price.

Price Elasticity of Demand Is a Measure Of