Price elasticity of demand basically measures
A. the reliability of a product.
B. the variability of price changes.
C. the responsiveness of consumers to price changes.
D. the percentage change in market price as a result of a change in demand.
Answer: C
Economics
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The best example of a nondurable good is
a. a television set b. carpeting c. a washing machine d. an electric saw e. a pair of children's shoes
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