Marshall used the concept of elasticity only with reference to _____.

income changes

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price Changes

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quantity changes

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related goods changes

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Solution

The correct option is C price Changes
The concept of elasticity of demand is associated with the name of Alfred Marshall. Elasticity of demand refers to the responsiveness of demand to the change in price. Thus, Marshall used te concept of elasticity only with reference to price changes.

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Marshall used the concept of elasticity only with reference to _____.

The correct option is C price ChangesThe concept of elasticity of demand is associated with the name of Alfred Marshall. Elasticity of demand refers to the responsiveness of demand to the change in price. Thus, Marshall used te concept of elasticity only with reference to price changes.

The correct option is C price Changes
The concept of elasticity of demand is associated with the name of Alfred Marshall. Elasticity of demand refers to the responsiveness of demand to the change in price. Thus, Marshall used te concept of elasticity only with reference to price changes.