What does price elasticity of demand measure?

What does price elasticity of demand measure?

Q.         What does price elasticity of demand measure?

A.           Change in price caused by changes in demand     

B.            The rate of change of sales

C.            The responsiveness of demand to price changes 

D.           The value of sales of a given price Answer: The responsiveness of demand to price changes

Demand and Supply MCQs
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