The elasticity of demand for necessity goods is highly elastic True/False

Find elasticity demand for p+0.0003x=15 at x=25,000 , what kind of elasticity is this?

The price elasticity of demand measures which of the following?         how responsive the quantity demanded is to changes in price         the percentage-slope of the demand curve     the slope of the demand curve based on price       the rate at which demand changes when price changes

The elasticity of demand is used to determine if a change in price results in a shortage or a surplus. find the market equilibrium. determine if consumers will or will not buy a product. measure how responsive consumers are to a change in price. determine in what direction the demand curve shifts if income changes.