Price elasticity of demand is define as the

Economics

WAEC 1993

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

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Correct Answer: Option A

Explanation

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Price elasticity of demand is define as the

Correct Answer: Option A

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