Price elasticity of demand is best defined as

Business Management Mcqs
BILAL KHATTAK0

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

Related Mcqs:

  1. Market demand for any good is a function of the
  2. The elasticity of demand explains the relationship between
  3. Demand for a commodity is elastic when
  4. If more is demanded at the same price or same quantity at a higher price, this fact of demand is known as
  5. People will tend to demand money if they think
  6. Decrease in demand means:
  7. Extension is demand means:
  8. Consumer goods’ means
  9. The price which covers the variable cost as well as the fixed price is
  10. People will tend to move out of money and into bonds if they think

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