The price elasticity of demand measures
A. how responsive consumers are to a change in income.
B. changes in demand.
C. how responsive consumers are to a change in price.
D. how responsive market prices are to a change in demand.
Answer: C
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You decide to donate $5 to Jerry's Kids at the grocery store checkout, and get to sign your name to a shamrock and hang it in their window. This is an example of the economic concept of:
A. marginal utility. B. altruism. C. reciprocity. D. selfishness.
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