Consumers' responsiveness or sensitivity to changes in price is known as:
a. break-even.
b. Equilibrium.
c. unitary revenue.
d. asymmetrical demand.
e. elasticity of demand.
ANSWER: e
Consumers' responsiveness or sensitivity to changes in price is known as:
a. break-even.
b. Equilibrium.
c. unitary revenue.
d. asymmetrical demand.
e. elasticity of demand.
ANSWER: e