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moonflowerz moonflowerz
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Posts: 321
5 years ago
If the absolute price elasticity of demand for a product is less than 1, then
A) consumers are relatively sensitive to price changes.
B) consumers are relatively insensitive to price changes.
C) there is a positive relationship between price changes and the quality of the product.
D) producers are relatively insensitive to price changes.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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