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The price elasticity of demand for a product tells you:

a)how sensitive price is to changes in demand.b)how sensitive the demand for a product is to changes in the products price.c)How demand changes with changes in the prices of competitors goods.d)how sensitive demand is to changes in the costs of production.

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Question added by Kishor Vadher , Sales Manager , Hausstrom ltd. Lagos
Date Posted: 2015/03/24
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VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Answer option >>>>>>>>>>>>    b)how sensitive the demand for a product is to changes in the products price

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

b)how sensitive the demand for a product is to changes in the products price.

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