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Today General Knowledge(GK)
Price elasticity of demand provides
A)
Technical change in the value
B)
A technical change in the cost of product
C)
A technical change in the goodwill of the firm
D)
A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant the values of all other variables in the demand function

Correct Answer : Option (D) - A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant the values of all other variables in the demand function


Published On : May 19, 2021
Category : Business and Economics
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