The percentage change in the quantity demanded of a good due to a percentage change in its price is referred to as the:

A) price multiplier.
B) price elasticity of demand.
C) shadow price of the good.
D) consumer surplus.


B

Economics

You might also like to view...

Explain what is meant by a devaluation of a currency. Under what circumstances would a country devalue its currency?

What will be an ideal response?

Economics

The government's court case against Microsoft is an example of:

a. predatory pricing. b. antitrust enforcement. c. economic regulation. d. the regulatory dilemma.

Economics

A narrowly diversified firm has wide economies of scope

Indicate whether the statement is true or false

Economics

A "decrease in the quantity demanded" means that

A) the demand curve has shifted to the right. B) the supply curve has shifted to the left. C) price has declined and consumers therefore want to purchase more of the good. D) price has increased and consumers therefore want to purchase less of the good.

Economics