The price elasticity of demand measures the:
A)responsiveness of the change in quantity demanded to a change in price.
B)change in price versus a change in quantity demanded.
C)responsiveness of the change in the slope of the demand curve to a change in price.
D)change in the slope of the demand curve versus a change in the quantity demanded.

Question

Quizplus · Accepted Answer

The price elasticity of demand measures the responsiveness or sensitivity of the quantity demanded to a change in price. It shows how much the quantity demanded changes in response to a change in price. Therefore, option A is the correct answer.

The Price Elasticity of Demand Measures The