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The price elasticity of demand is a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price. Click the chapter links below to view the solutions to the Questions for Review from each chapter of the book. Economics Test Review Scenarios ­ answer key.notebook 5 December 11, 2014 Dec 17­2:10 PM A. Label: price, quantity, demand curve (D1), and supply curve (S1) B. Textbook Authors: Mankiw, N. 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