economic lowdown video series—video 1: what is elasticity? 2 of 8 price elasticity of demand measures: how…

economic lowdown video series—video 1: what is elasticity? 2 of 8 price elasticity of demand measures: how much the price of a good changes over time how much the supply of a good responds to changes in demand how much consumers incomes fluctuate how much the quantity demanded changes in response to price changes

economic lowdown video series—video 1: what is elasticity? 2 of 8 price elasticity of demand measures: how much the price of a good changes over time how much the supply of a good responds to changes in demand how much consumers incomes fluctuate how much the quantity demanded changes in response to price changes

Answer

Brief Explanations:

Price - elasticity of demand is a measure in economics that shows the responsiveness of the quantity demanded of a good to a change in its price. It is not about price change over time, supply - demand relationship, or income fluctuations.

Answer:

How much the quantity demanded changes in response to price changes