$44$

$2$ points

One of the most important concepts in marketing is the price elasticity of demand, which is the

degree to which the price $f$ a product affects consumers' purchasing behavior

point at which the costs of producing a product equal the revenue made from selling the product

price that consumers consider reasonable and fair for a product

percentage a product is marked up in response to consumer demand

percentage change in quantity demanded in response to a percentage change in price