What does the price elasticity of demand indicate?

Show Answers

How price varies due to shifts in demandThe speed at which sales fluctuateHow sensitive demand is to variations in priceThe total sales revenue at a specific price point

Explanation

Option A describes how price changes when demand shifts. Option B refers to how quickly sales change. Option C correctly defines price elasticity of demand as the degree to which demand responds to price changes. Option D relates to sales value at a fixed price.