Price elasticity measures how many more units of a good that consumers will buy given a decrease in price." Do you agree or disagree? Explain.

Price elasticity certainly measures how many more units of a good that consumers will buy given a decrease in price. It shows the responsiveness, or elasticity, of the quantity, demanded of a good or service to a change in its price, other things remaining the same. Suppose if the price of a good decreases from $100 to $80, then in order to consume more, the consumer buys more goods. The number of goods he buys more measures the demand elasticity of the product.