The price elasticity of demand is defined as the responsiveness of:
A. price to a change in quantity demanded.
B. quantity demanded to a change in price.
C. price to a change in income.
D. quantity demanded to a change in income.
Answer:B
The price elasticity of demand is defined as the responsiveness of:
A. price to a change in quantity demanded. B. quantity demanded to a change in price. C. price to a change in income. D. quantity demanded to a change in income.