Wiktionary(0.00 / 0 votes)Rate this definition: 1  upheaval(Noun) the process of being heaved upward, especially the raising of part of the earth's crust. 2  upheaval(Noun) a sudden violent upset, disruption or convulsion.
MicroEcon Test 2 Correct 1. The price elasticity of demand coefficient measures: A) buyer responsiveness to price changes. B) the extent to which a demand curve shifts as incomes change. C) the slope of the demand curve. D) how far business executives can stretch their fixed costs. Points Earned: 1.0/1.0 Correct Answer(s): A Correct 2.
Answers to the Problems â Chapter 4. 1. a. The price elasticity of demand is 1.25. The price elasticity of demand equals the percentage change in the quantity demanded. divided by the percentage change in the price. The price rises from $4 to $6 a box, a rise of. $2 a box. The average price is $5 a box.