Economics · Elasticity of Demand

What is the term used to define the responsiveness or sensitivity of quantity demanded to a change in price?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Inelastic price
2Break-even price
3Cost-plus price
4Price elasticity✓

Correct answer

Price elasticity

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What is the term used to define the responsiveness or sensitivity of quantity demanded to a change in price?

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What is the term used to define the responsiveness or sensitivity of quantity demanded to a change in price?

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