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Which of the following description regarding the own-price elasticity is correct? It measures the responsiveness of demand to a change in the product price, holding the values of all other variables in the demand function constant

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Which of the following description regarding the own-price elasticity is correct? It measures the responsiveness of demand to a change in the product price, holding the values of all other variables in the demand function constant. % AQ 20/QdQP Its formula can be expressed as E = % AP OP/P ?? g' a. = = b. All of the above are correct. C. d. All of the above are incorrect.