What does elasticity of demand measure?
(a) an increase in the quantity available
(b) a decrease in the quantity demanded
(c) how much buyers will cut back or increase their demand when prices rise or fall
(d) the amount of time consumers need to change their demand for a good

Question

What does elasticity of demand measure?
(a) an increase in the quantity available
(b) a decrease in the quantity demanded
(c) how much buyers will cut back or increase their demand when prices rise or fall
(d) the amount of time consumers need to change their demand for a good

domebotnos · Answer

@Algorithmic i just need you to check, is c the correct answer?

anonymous · Answer

Indeed you are correct, $(c)$ is the correct answer.

Peace.

domebotnos · Answer

@Algorithmic thanks again :)

anonymous · Answer

You are welcome.

Peace.