The word best associated with price elasticity of demand is
A) relative.
B) total.
C) absolute.
D) unit.

Name: The word best associated with price elasticity of demand is A) relative. B) total. C) absolute. D) unit.
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Question

Quizplus · Accepted Answer

Price elasticity of demand is a measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a percentage change in quantity demanded divided by the percentage change in price, making it a relative measure.

The Word Best Associated with Price Elasticity of Demand Is