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The Price Elasticity of Demand for a Good Measures the Responsiveness

Question 3

Multiple Choice

The price elasticity of demand for a good measures the responsiveness of:


A) demand to a one percent change in price of that good.
B) price to a one percent change in the demand for that good.
C) quantity demanded to a one percent change in price of that good.
D) price to a one percent change in the quantity demanded of that good.

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