The responsiveness or the sensitivity of consumer demand to changes in price occurs when consumers buy more or less of a product when the price changes.What is this called?
A) the break-even point
B) elasticity of demand
C) the point of equilibrium
D) unitary revenue

Question

Quizplus · Accepted Answer

The responsiveness or sensitivity of consumer demand to changes in price is called elasticity of demand. Options A, C, and D are not directly related to this concept.

The Responsiveness or the Sensitivity of Consumer Demand to Changes