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    Question

    The statement, "The elasticity of demand may be defined

    as the percentage change in quantity demanded which would result from 1 percent change in price", is given by
    A Boulding Correct Answer Incorrect Answer
    B Cairncross Correct Answer Incorrect Answer
    C Joan Robinson Correct Answer Incorrect Answer
    D Alfred Marshall Correct Answer Incorrect Answer

    Solution

    According to Alfred Marshall: "Elasticity of demand may be defined as the percentage change in quantity demanded to the percentage change in price."

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