Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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D3)

Transcribed Image Text:The price elasticity of demand is a measure of
Multiple Choice
01:43:18
the demand for a good.
the change in quantity demanded of a good that results from a change in itsrice.
how consumers respond to excess demand.
the change in price of a good that results from a change in its quantity demanded,
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