McqMate
| Q. |
Price elasticity of demand is best defined as |
| A. | The change in the tastes of consumers at different prices |
| B. | The rate of response of demand to a change in supply |
| 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 |
| Answer» D. The rate of response of demand to a change in price | |
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