The smaller is the absolute price elasticity of demand, the
A) smaller is the responsiveness of quantity demanded to the price change.
B) larger is the responsiveness to a price change.
C) larger is the income of the buyer.
D) higher is the change in demand to an income change.

Question

Quizplus · Accepted Answer

The smaller the absolute price elasticity of demand, the less responsive the quantity demanded is to a change in price. This means that a change in price will have a smaller effect on demand.

The Smaller Is the Absolute Price Elasticity of Demand, the