Question: Defining Elasticity Explain what elasticity measures. Which answer best defines elasticity? a.) Elasticity is a measure of the sensitivity of a variable. b.) Elasticity is

Defining Elasticity Explain what elasticity measures. Which answer best defines elasticity? a.) Elasticity is a measure of the sensitivity of a variable. b.) Elasticity is a measure of the sensitivity of one variable to a change in another. c.) Elasticity is a measure of the sensitivity of quantity demanded to a change in the price of another variable. d.) Elasticity is a measure of the sensitivity of quantity demanded to a change in own price

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