The measure of customers' price sensitivity estimated by dividing relative changes in quantity sold by relative changes in price-becomes central to whether a product can even be viably introduced within the context of a firm's financial objectives

Question

Quizplus · Accepted Answer

The measure described in the statement is the definition of price elasticity of demand, which is the degree to which customers' demand for a product is affected by changes in the product's price. Therefore, the correct answer is A) Price elasticity of demand.

The Measure of Customers' Price Sensitivity Estimated by Dividing Relative