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Answer to Question #218114 in Economics for Paballo
Question #218114
- What does the price elasticity of demand measure? A. how sensitive the quantity demanded of a good is to changes in income
- B. how sensitive the price is to changes in the quantity demanded
- C. the slope of the demand curve
- D. the responsiveness of the quantity demanded of a good to changes in the price of the good
Expert's answer
D. the responsiveness of the quantity demanded of a good to changes in the price of the good
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