{"id":119208,"date":"2022-09-27T13:46:21","date_gmt":"2022-09-27T08:16:21","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=119208"},"modified":"2022-09-27T13:46:24","modified_gmt":"2022-09-27T08:16:24","slug":"what-does-price-elasticity-of-demand-measure","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/what-does-price-elasticity-of-demand-measure\/","title":{"rendered":"What does price elasticity of demand measure?"},"content":{"rendered":"\n<p><strong>Q. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 What does price elasticity of demand measure?<\/strong><\/p>\n\n\n\n<p>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in price caused by changes in demand&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The rate of change of sales<\/p>\n\n\n\n<p>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The responsiveness of demand to price changes&nbsp;<\/p>\n\n\n\n<p>D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The value of sales of a given price Answer: The responsiveness of demand to price changes<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 What does price elasticity of demand measure? A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in price caused by changes in demand&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The rate of change of sales C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The responsiveness of demand to price changes&nbsp; D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The value of sales of a given price Answer: The responsiveness of demand to price changes<\/p>\n","protected":false},"author":419,"featured_media":119209,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4960],"tags":[4961],"offerexpiration":[],"class_list":["post-119208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-demand-and-supply-mcqs","tag-demand-and-supply-mcqs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/419"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=119208"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119208\/revisions"}],"predecessor-version":[{"id":119210,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119208\/revisions\/119210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/119209"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=119208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=119208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=119208"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=119208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}