Engineering :: Business Management
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Price elasticity of demand is best defined as
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[A]. |
The change in the tastes of consumers at different prices | [B]. |
The rate of response of demand to a change in supply
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[C]. |
The change in costs when output is increased by one unit | [D]. |
The rate of response of demand to a change in price |
[E]. |
Being depended on whether the goods are a lusury or not |
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