Answer:
The correct answer is C. Price elasticity of demand is the difference in the quantity demanded compared to the difference in consumer price.
Explanation:
The price elasticity of demand is a measure of price sensitivity in microeconomics. Specifically, demand's price elasticity measures how many percent of demand for a good changes when the price changes by 1%.
Price elasticities are almost always negative, that is, the demand for a good goes down as the price increases, and vice versa. Only goods that do not follow the law of demand have positive price elasticity.
