The degree of responsiveness of demand to change in the price of goods or produce...
AGRICULTURE
JAMB 2016
The degree of responsiveness of demand to change in the price of goods or produce is referred to as
- A. Relative Elasticity of demand
- B. Unit Elasticity of demand
- C. Price Elasticity of demand
- D. Perfect Elastic demand
Correct Answer: C. Price Elasticity of demand
Explanation
Price Elasticity of demand is the degree of responsiveness of demand to changes in the price of goods or produce.
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