Question

What does elasticity of demand measure?

विकल्प

• The total sales of a product

• The percentage change in quantity demanded for a percentage change in price

• The number of buyers in the market

• The change in supply for a change in price

Answer 1

The percentage change in quantity demanded for a percentage change in price

Explanation:

Elasticity of demand is the percentage change in quantity demanded in response to a percentage change in price.