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Q:

In general, elasticity is a measure of

A) how firms' profits respond to changes in market prices.  B) the extent to which advances in technology are adopted by producers.
C) how much buyers and sellers respond to changes in market conditions. D) the extent to which a market is competitive. 

Answer:   C) how much buyers and sellers respond to changes in market conditions.



Explanation:
Subject: Indian Economy
Exam Prep: Bank Exams
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