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Which of the following is the most precise definition of the own price elasticity of demand? A

Economics

Which of the following is the most precise definition of the own price elasticity of demand?

A. It is the measure of how sensitive the consumer is to a change in price.

B. It measures the slope of the demand curve.

C. It measures the percentage change in quantity demanded of good x as a result of a percentage change in price per unit of good x.

D. It measures the total change in quantity demanded of good x as a result of a total change in price per unit of good x.

Option 1

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