Elasticity of demand measures the responsiveness of the quantity demanded of the goods to a _______.

change in the price of the goods

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change in the price of substitutes

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change in the price of the complements

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change in the price of joint products

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Solution

The correct option is A change in the price of the goods
Elasticity of demand measures the responsiveness of the quantity demanded of the goods to a change in the price of the goods. It is calculated by diving the proportionate change in quantity demand by proportionate change in price level.

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Elasticity of demand measures the responsiveness of the quantity demanded of the goods to a _______.

The correct option is A change in the price of the goodsElasticity of demand measures the responsiveness of the quantity demanded of the goods to a change in the price of the goods. It is calculated by diving the proportionate change in quantity demand by proportionate change in price level.

The correct option is A change in the price of the goods
Elasticity of demand measures the responsiveness of the quantity demanded of the goods to a change in the price of the goods. It is calculated by diving the proportionate change in quantity demand by proportionate change in price level.