contestada

The price elasticity of demand measures the: A. responsiveness of quantity demanded to a change in quantity supplied. B. responsiveness of quantity demanded to a change in price. C. responsiveness of price to a change in quantity demanded. D. responsiveness of quantity demanded to a change in income.

Respuesta :

Answer:

Option "B" is the correct answer to the following statement.

Explanation:

The price elasticity of demand determines the flexibility of the volume needed to adjust the price.

The demand of an individual or market becomes inelastic if it will not adjust much to increasing prices, and it is elastic for an individual or market if the demand of a particular commodity will shift a lot as prices shift.

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