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The concept of price elasticity of demand is important because it Select one: a.quantifies how responsive the price is when there are changes in quantity

The concept of price elasticity of demand is important because it

Select one:

a.quantifies how responsive the price is when there are changes in quantity demand.

b.calculates the steepness of a demand line.

c.shows how demand changes when there is a change in supply.

d.quantifies how responsive quantity demand is when there are changes in price.

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