Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Elasticity measures the change in the demand with the change in

• A. Quality of Product
• B. Quantity of Product
• C. Price or Income

Answer 1

The correct option is C Price or Income

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Elasticity measures the responsiveness of demand with variables such as price and income. There is price elasticity of demand, Income elasticity of demand. etc according to variables