Economics
WAEC 2024
Price elasticity of demand is the responsiveness of quantity demanded to a change in
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A.
demand for the product.
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B.
price of another product.
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C.
income of the buyer.
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D.
price of the product.
Correct Answer: Option D
Explanation
D: Price elasticity of demand is the responsiveness of quantity demanded t change in price of the commodity.
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