What is the elasticity of demand? A measure of the responsiveness of the quantity demanded of a good or service to a change in its price. It is al...
What is the elasticity of demand?
A measure of the responsiveness of the quantity demanded of a good or service to a change in its price.
It is always positive.
It is the percentage change in quantity demanded divided by the percentage change in price.
It is the percentage change in price divided by the percentage change in quantity demanded.
a) A measure of the responsiveness of the quantity demanded of a good or service to a change in its price.
b) It is always positive.
c) It is the percentage change in quantity demanded divided by the percentage change in price.
d) It is the percentage change in price divided by the percentage change in quantity demanded.
A measure of the responsiveness of the quantity demanded of a good or service to a change in its price.
It is always positive.
It is the percentage change in quantity demanded divided by the percentage change in price.
It is the percentage change in price divided by the percentage change in quantity demanded.
a) A measure of the responsiveness of the quantity demanded of a good or service to a change in its price.
b) It is always positive.
c) It is the percentage change in quantity demanded divided by the percentage change in price.
d) It is the percentage change in price divided by the percentage change in quantity demanded.
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