Which of the following can be measured by price elasticity of demand?

Which of the following can be measured by price elasticity of demand?



a) the impact of marginal revenue of a firm on its average revenue

b) the sensitivity of customer demand for a product to changes in the supply of the product

c) the sensitivity of a firm's revenues to changes in its product's price

d) the impact of fixed costs and variable costs on the break-even point

e) the percentage change in profit for a percentage change in product price



Answer: C


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