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28-03-2018
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The percentage change in the quantity demanded of a good due to a percentage change in its price is referred to as the:

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MrBalduzzi MrBalduzzi

28-03-2018

Price elasticity of demand.

The price elasticity of demand measures how much the change in quantity demanded of a good is affected by the change in its price, all using percentage change to keep it relative to the initial cost of a good sold.

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