consumers are to a change in price
sellers are to a change in price
sellers are to a change in price
buyers are to a change in income
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i think this question is wrong, because they are clearly distinguised in the textbooks
The correct answer is:
A. consumers are to a change in price
Price elasticity of demand specifically measures how responsive consumers are to a change in the price of a good or service. It tells us how much the quantity demanded will increase or decrease when the price changes.
(Just a note: Options B and C are the same — probably a typo. Also, Option D refers more to income elasticity of demand, not price elasticity.)
It happens to be a typographical error.
The actual question is
Price elasticity of supply measures how responsive
A.
consumers are to a change in price
B.
sellers are to a change in buyers' income
C.
sellers are to a change in price
D.
buyers are to a change in income
