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313

Q:

The elasticity of demand also measures the responsiveness of the quantity demanded of a commodity.

  • 1
    Change in the price of the commodity.
  • 2
    Change in the price of the substitute good
  • 3
    Change in price of complementary good
  • 4
    Change in price of joint products
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Answer : 1. "Change in the price of the commodity."

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