_____ is a measure of how responsive the quantity demanded is to changes in marketing variables such as price and advertising.
A) Profitability
B) Elasticity
C) Production
D) Disinvesting
E) Connectivity

Question

_____ is a measure of how responsive the quantity demanded is to changes in marketing variables such as price and advertising.
A) Profitability 
B) Elasticity 
C) Production 
D) Disinvesting 
E) Connectivity

Quizplus · Accepted Answer

Elasticity measures the degree of responsiveness of consumers to changes in marketing variables such as price and advertising. It indicates the percentage change in the quantity demanded for a percentage change in the marketing variable. Higher elasticity means that consumers are more responsive to marketing changes, while lower elasticity means they are less responsive.

_____ Is a Measure of How Responsive the Quantity Demanded