Price Elasticity Demand measures:

Question $14$ options:

a$)$

how responsive the quantity demanded of a good is to changes in the price of a related good.

b$)$

how responsive the quantity demanded of a good is to changes in that good's price

c$)$

how responsive the quantity demanded of a good is to changes in the income of buyers

d$)$

how responsive the quantity supplied is to changes in that good's price.