The price elasticity of demand measures the responsiveness of the change in the "quantity demanded to a change in the price".
Answer: Option D
Explanation:
An indicator used in economics to demonstrate the responsiveness, or elasticity, of the amount required of a good or service to boost its price because nothing but the rate changes, this is understood as the "price elasticity of demand". In addition, a good's PED may be used to anticipate the incidence or "strain" of a levy on that good. Different research techniques are used to assess price elasticity such as test markets, historical sales data analysis and combined analysis.
