Solved UPSC CDS/OTA Question
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Q · Demand and SupplyMedium · 45s
What does the price elasticity of demand measure?
TopicDemand and Supply
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
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It measures how the quantity demanded responds to price changes.
Final Answer: Option B - Responsiveness of demand to price