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What measures the responsiveness of quantity demanded?The cross elasticity of demand is an economic concept that measures the responsiveness in the quantity demanded of one good when the price for another good changes.
How is the responsiveness of the quantity demanded to a change in price measured quizlet?Terms in this set (64) A measure of how much one economic variable responds to changes in another economic variable. The responsiveness of the quantity demanded to a change in price, measured by dividing the percentage change in the quantity demanded of a product by the percentage change in the product's price.
Is a measure of the responsiveness of the quantity demanded of a good to a change in income when all other influences on buyers plans remain the same?The price elasticity of demand is units-free measure of the responsiveness of the quantity demanded of a good to a change in its price when all other influences on buying plans remain the same.
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What measures the responsiveness of quantity demanded to a change in price quizlet?
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