1 . The price elasticity is -0.71 means
- A. an increase in price by TK. 1 increase the demand by TK. 0.71
- B. an increase in price by 1% reduces the demand by TK. 0.71%
- C. an increase in price by TK. 0.71 reduces the demand by TK. 1
- D. an inrease in price by TK. 0.71% increase the demand by 1%
- D. a decrease in demand by 0.71% reduces the price by TK. 1
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Bangladesh Bank - Assistant Director - 2006
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