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QUESTION 3 (20) 3.1 Briefly explain price elasticity of demand and how it is measured. (5)...

QUESTION 3 (20) 3.1 Briefly explain price elasticity of demand and how it is measured. (5) 3.2 Explain with diagrams and relevant examples, THREE (3) categories of price elasticity of demand. (9) 3.3 Explain any THREE (3) determinants of price elasticity of demand.

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