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Price Elasticity Of Demand Is Defined As The? - Erudites Academy

A. responsiveness of demand to changes in the price
B. responsiveness of price to changes in demand
C. increase in demand resulting from a rise in price
D. unit decrease in price resulting from a fall in demand
E. unit increase in quantity demanded when price rises

Correct Answer:

Option A – responsiveness of demand to changes in the price

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