The _____ of demand is the percentage change in the quantity of a good or service demanded divided by the percentage change in its price.
a. volume elasticity
b. competition sensitivity
c. price elasticity
d. volume sensitivity
Answer: C
The _____ of demand is the percentage change in the quantity of a good or service demanded divided by the percentage change in its price.
a. volume elasticity
b. competition sensitivity
c. price elasticity
d. volume sensitivity
Answer: C